SILVER SPRING, Md. (AP) _ Discovery Communications Inc. (DISCA) on Thursday reported first-quarter net income of $384 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Silver Spring, Maryland-based company said it had net income of 53 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 87 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $2.71 billion in the period, matching Street forecasts.
Discovery shares have risen 25% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. The stock has risen 29% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DISCA at https://www.zacks.com/ap/DISCA