Silver Spring – Discovery Communications Inc. reported financial results for the second quarter ended 30 June 2009. Second-quarter net profit at Discovery Communications rose from $43 million to $183 million, on revenues that were down slightly to $881 million, thanks to ratings increases at its US network, increased international subscribers and cost cuts. US revenues were up 2 percent to $557 million, with distribution revenues up 5 percent to $247 million and ad revenues up 1 percent to $290 million. At the international networks, there was a 5 percent reduction in revenues to $283 million, with distribution revenues down 2 percent to $179 million and ad revenues down 13 percent to $78 million. David Zaslav, Discovery’s president and chief executive officer said, “Discovery’s second quarter results demonstrate our ability to execute on our business plan and strategic initiatives in a difficult operating environment.” “While the operating environment remains uncertain, with a strengthened balance sheet, operational momentum and sustained operating leverage, we expect to continue to deliver on our commitments to shareholders in the second half of 2009,” he added.
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