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Discovery Q4'17 revenue up 11.5% YOY; impairment charge, deal costs hit profits

Discovery Communications Inc. reported an 11.5% year-over-year gain in revenue for the quarter ended Dec. 31, 2017.

It recorded revenue of $1.86 billion, up from $1.67 billion a year earlier.

The programmer saw a fourth-quarter 2017 net loss available to the company of $1.14 billion, or a loss of $1.99 per share, compared to net income of $304.0 million, or 51 cents per share a year ago.

Improved operating results were more than offset by a noncash $1.32 billion after-tax goodwill impairment charge, $59 million of after-tax Scripps Networks Interactive Inc. transaction-related costs and currency-related transactional losses compared to gains in the prior year.

The GAAP S&P Capital IQ consensus estimate for the quarter was 31 cents.