Discovery Beats on Earnings in Quarter Ahead of Discovery+ Launch
Streaming service debuted on Jan. 4, 2021Tony Maglio | February 22, 2021 @ 4:11 AM Last Updated: February 22, 2021 @ 6:10 AM
Discovery, Inc. reported a successful fourth quarter 2020 in terms of Wall Street’s expectations, at least on Monday morning. Last year’s Q4 was the final 90-day period before the “90 Day Fiancé”-heavy streaming service Discovery+ was launched on Jan. 4, 2021.
Wall Street had forecast earnings per share (EPS) of 72 cents on $2.83 billion in revenue, according to a consensus forecast compiled by Yahoo Finance. Discovery actually reported adjusted EPS of 76 cents on $2.886 billion in revenue. Net income was $271 million.