Discovery International hit by currency effects in Q2

David Zaslav

Discovery Communications has posted 3% revenue growth for the second quarter, with strong US growth offsetting the negative impact of exchange rate fluctuations on its international business.

Overall, Discovery posted revenues of US$1.654 billion for the quarter, up 3% or 11% excluding currency effects.

The US business posted revenues of US$814 billion, up 5%. International saw revenues of US$801 billion, up 1%.

The currency impact meant that Discovery’s OIBDA fell 2% to US$680 million. Excluding currency effects, it rose by 6%.

“Driven by our unmatched portfolio and steady growth around the world, Discovery’s strong start to the year continued in the second quarter,” said Discovery Communications President and CEO David Zaslav.

“We have carried that momentum into the third quarter and signed three landmark deals – the historic agreement for the Olympic Games in Europe, our agreement to acquire full ownership of Eurosport and our comprehensive longterm renewal with Comcast – that will bolster Discovery’s position and market share for years to come. I am pleased with the progress we made in the first half of the year and look forward to building our stable of content, IP and world-class platforms to drive viewer engagement and meaningful value to distributors, advertisers and shareholders now and into the future.”