Discovery, Inc. Reports Third Quarter 2020 Results

David Zaslav President and Chief Executive Officer of Discovery said quotDiscovery delivered improving financial results in the third quarter a testament to the powerful appeal of our content and brands led in the US by TLC which beat toprated sports and news networks in coveted Primetime demos even in a record year for cable news And as promised our healthy liquidity position and another robust quarter of free cash flow generation allowed us to return 228 million to shareholders through share repurchases In the midst of macroeconomic uncertainty with the ongoing COVID pandemic as well as the continuing evolution of our industry we remain focused on positioning Discovery for longterm growth and shareholder value creation through the execution of our strategic priorities including our next generation initiativesquotThirdQuarter 2020 Financial HighlightsTotal revenues of 2561 million decreased 4 compared to the prior year quarter or decreased 5 exFXUS distribution revenues increased 2 and advertising revenues decreased 8 andInternational distribution revenues decreased 4 and advertising revenues decreased 9 both exFXNet income available to Discovery Inc was 300 million and EPS was 044 per diluted shareAdjusted EPS was 081 per diluted shareTotal Adjusted OIBDA decreased 15 to 954 million or decreased 14 exFXCash provided by operating activities was 860 million and Free Cash Flow was 787 millionRepurchased 112 million Series C common shares for 228 million at an average price of 2037 per shareOperational HighlightsTotal share of viewing across the international portfolio in the third quarter of 2020 improved 5 on average with strong growth in the UK Germany Italy and Norway Additionally Q3 marked five consecutive quarters of yearoveryear share improvementDiscovery39s portfolio of networks accounted for 4 of the top 5 cable networks during Total Day in the third quarter among key women demos including HGTV ID TLC and Food Network and gained more share in Primetime than any other TV portfolioFor 2020 todate TLC continues to be the 1 adsupported cable network in Primetime among women and 2 among persons aged 2554 and 1849 On Sunday and Monday nights in the third quarter TLC was the 1 network on all of TV among women driven by megahit franchise shows 90 Day Fiancamp233 Happily Ever After and 90 Day Fiancamp233 The Other Way And the most recent 90 Day spinoff series Darcey ampamp Stacey has become the 1 freshman cable series yeartodate among women demos and persons aged 2554DISCOVERY INC REPORTS THIRDQUARTER 2020 RESULTSClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

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Discovery, Inc. Reports Third Quarter 2020 Results

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