By Cynthia Littleton Business Editor Discovery Inc. posted a dip in profit for the first quarter as the company grapples with international headwinds, stagnant advertising sales and subscriber losses at its U.S.
cable networks. Discovery reported revenue of $2.7 billion for the quarter, which was flat year over year, and $1.1 billion in adjusted operating income, down 4%.
Net income for the quarter came in at $377 million, compared to $384 million in the year-ago quarter. Discovery CEO David Zaslav told investors during the earnings conference call that Discovery has been dealing with the impact of coronavirus shutdowns since December at some of its international outlets.
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