Discovery Communications Projects Low Double Digit Grow In Adj. EPS For FY15

(RTTNews) - Discovery Communications Inc. (DISCA, DISCB, DISCK) Tuesday said it expects full year 2015 adjusted earnings per share excluding currency to grow low double digits. For the period, it expects 9 to 10 percent growth in revenues excluding currency impacts. Adjusted OIBDA is expected to grow in the mid single digit range. Wall Street expects full year earnings of $1.64 per share on revenue of $6.45 billion.

Further, the company reported an increase in its buyback authorization by $2 billion and to begin share repurchases in fourth quarter. Third quarter earnings per share increased from the previous year, while revenue were down one percent and climbed 8 percent, excluding currency impacts.

For the third-quarter, the company reported a decline in net income attributable to the company to $279 million from $280 million last year. On a per share basis, earnings increased to $0.43 from $0.41 last year. On an adjusted basis, earnings increased 2 percent to $0.47. On average, 23 analysts polled by Thomson Reuters expected the company to earn $0.38 per share. Analysts estimates usually exclude special items.

Total revenue for the quarter edged down to $1.557 billion from $1.568 billion a year ago. Revenue for international networks were down 9 percent to $740 million from $813 million in the prior year. Wall Street expected the company to $1.58 billion.