Discovery +1.8% on solid Q4 beat; Scripps Networks merger gets OK [Seeking Alpha]
SCRIPPS NETWORKS (SNI)
Last scripps networks earnings: 2/26 04:01 pm
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ir.scrippsnetworksinteractive.com
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Source: Seeking Alpha
Discovery +1.8% on solid Q4 beat; Scripps Networks merger gets OKDiscovery Communications (NASDAQ:DISCA) isup 1.8% in choppy trading out of the open, after posting double-digit revenue gains in each of its segments inQ4 earnings that topped Street expectations even as the company got a key merger sign-off.The company notes it'sgotten DOJ clearance to acquire Scripps Networks Interactive (NYSE:SNI); it still needs clearance in Ireland and Discovery expects to close by the end of Q1.Adjusted OIBDA rose 10% to $636M (with 9% growth International, 7% growth in U.S. and Education/other swinging to gain). Net income was affected by a $1.321B after-tax goodwill impairment charge and fell to -$1.14B.The company benefited from currency effects; excluding those, revenues were up 5% and OIBDA up 9%.Revenue by segment: U.S. Networks, $892M (up 10%); International Networks, $927M (up 13%); Education and other, $45M (up 10%).Free cash flow fell to $430M.Press releaseSee all stocks on the move »Now
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