Discovery Communications Inc (NASDAQ:DISCA) reported net income above Wall Street’s expectations for the third quarter. Net income for Discovery Communications Inc rose to $237 million (59 cents per share) vs. $186 million (43 cents per share) in the same quarter a year earlier. This marks a rise of 27.4% from the year earlier quarter. Revenue rose 18.3% to $1.09 billion from the year earlier quarter. DISCA beat the mean analyst estimate of 55 cents per share. It beat the average revenue estimate of $1.01 billion.
David Zaslav, Discovery’s President and Chief Executive Officer said, “The strength of Discovery’s brands and the value of our content to consumers, distributors and advertisers alike were further demonstrated in our third quarter financial results. The appeal of our programming allowed us to continue to take advantage of the sustained health of the global ad market and further leverage existing and emerging distribution platforms worldwide. The breadth of our global distribution enables us to capitalize on the increasing penetration of traditional distribution models, while the diversity and appeal of our content allows us to strategically leverage evolving delivery methods.”
Competitors to Watch: Scripps Networks Interactive, Inc. (NYSE:SNI), CBS Corporation (NYSE:CBS), Outdoor Channel Hldgs., Inc. (NASDAQ:OUTD), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), News Corporation (NASDAQ:NWSA), Madison Square Garden, Inc. (NASDAQ:MSG), Time Warner Inc. (NYSE:TWX), and Point.360 (NASDAQ:PTSX).
HSN, Inc. (NASDAQ:HSNI) reported net income above Wall Street’s expectations for the third quarter. Net income for HSN, Inc. rose to $24.3 million (40 cents per share) vs. $14.9 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 63.3% from the year earlier quarter. Revenue rose 6% to $751.2 million from the year earlier quarter. HSNI reported adjusted net income of 47 cents per share. By that measure, the company beat the mean estimate of 34 cents per share. Analysts were expecting revenue of $754.4 million.
“HSNi delivered another quarter of strong sales, EBITDA and EPS growth year-over-year. We achieved these results while executing on a number of significant initiatives, including new launches, events and expansion of our digital efforts,” said Mindy Grossman, CEO of HSN, Inc. “The performance of both HSN and Cornerstone in the quarter, as well as our recently announced capital return plan, reflect our focus on driving shareholder value and our confidence in HSNi’s long-term growth potential.”
Competitors to Watch: ValueVision Media, Inc. (NASDAQ:VVTV), Liberty Media Corp (NASDAQ:LINTA), eBay Inc. (NASDAQ:EBAY), Gaiam, Inc. (NASDAQ:GAIA), Overstock.com, Inc. (NASDAQ:OSTK), The Parent Company (KIDSQ), Amazon.com, Inc. (NASDAQ:AMZN), Hot Topic, Inc. (NASDAQ:HOTT), BIDZ.com, Inc. (NASDAQ:BIDZ), and Stamps.com Inc. (NASDAQ:STMP).