Discovery Communications, Inc. reported financial results for the third quarter ended 30 September 2008. Revenues of US$845 million increased 11 per cent over the as adjusted third quarter a year ago, primarily driven by 16 per cent growth at international networks and 6 per cent growth at US networks. Adjusted Operating Income Before Depreciation and Amortization (OIBDA) increased 23 per cent to US$311 million led by 58 per cent growth at international networks and 9 per cent growth at US networks. Adjusted OIBDA margin increased to 37 per cent for the third quarter 2008 from 33 per cent for the same prior year period. Third quarter net income from continuing operations of US$94 million ($0.31 per share) increased US$64 million versus the as adjusted results of US$30 million ($0.11 per share) for the third quarter a year ago. The increased results primarily reflect the higher Adjusted OIBDA as well as a US$65 million benefit in the current year related to the unrealized change in the fair value of the marked to market equity-based compensation which was an expense of US$44 million in the third quarter a year ago. Free cash flow was US$200 million for the third quarter and US$339 million for the first nine months of 2008, an increase of US$271 million from the as adjusted results for the first nine months of 2007.