Discovery beat Wall Street expectations for third-quarter revenues yesterday, boosted by the media company’s European broadcast rights to the Tokyo Olympic Gamess, which featured the exploits of Sky Brown, the 13-year-old British skateboarder.
Discovery, which is preparing to merge with AT&T’s WarnerMedia, reported that revenue had risen by 23 per cent to $3.15 billion in the three months to the end of September.
Total paid streaming subscribers globally stood at 20 million at the end of the quarter, up from 17 million in the previous three months. That figure includes subscribers to the Discovery+ streaming service launched in January, the company said.
Advertising revenue rebounded after a Covid-driven and was up 28 per cent internationally on the same period last year.
In late afternoon trading in New York, the shares stood at $25.6, up 3.7 per cent.
