Discovery Communications (NASDAQ:DISCA) is rebounding from early morning, off 0.6% now following a near miss in its Q3 earnings where the company faced "challenging but expected" headwinds, says CEO David Zaslav.
Revenues were flat, but excluding foreign exchange effects, they rose 3%. Net income, meanwhile, fell 22%.
Free cash flow increased 75%, to $410M. Cash flow from operations increased to $436M and capital expenditures increased 8% to $26M.
Revenues by segment: U.S. Networks, $793M (up 2%); International Networks, $720M (down 3%); Education and other, $43M (up 19%).
Adjusted OIBDA by segment: U.S. Networks, $458M (up 3%); International Networks, $183M (down 16%); Education and other, -$1M vs. year-ago -$5M.
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