Abhoy Sarkar's Avatar
published in Blogs
Apr 28, 2021
Discovery (DISCA, $36.67) stock falls on Q1 earnings miss

Discovery (DISCA, $36.67) stock falls on Q1 earnings miss

On Wednesday, Discovery Inc.   shares fell following the company’s first-quarter earnings release.

The media company’s adjusted earnings came in at 21 cents a share, falling behind the  33 cents expected by analysts polled by FactSet. They were also lower from the year-ago quarter’s 55 cents a share.

Revenue rose to $2.79 billion from $2.68 billion a year ago. FactSet consensus was $2.77 billion.

According to the company, it now has 15 million total paying direct-to-consumer subscribers across its platform, including more than 13 million for its Discovery+ streaming platform. 

"The global rollout of discovery+ is off to a fantastic start by any measure. Key metrics, including subscriber additions, customer engagement, and retention, are exceeding our expectations and demonstrating sustained momentum into the second quarter," Chief Executive David Zaslav said in a statement. 

Related Tickers: WBD