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Discovery Posts Better-Than-Expected Earnings, Says Pandemic Hit "Key" Ad Markets Abroad

China Taiwan South Korea virus 2020 pandemic crisis
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Discovery on Wednesday reported better-than-expected earnings and unchanged U.S. advertising revenue for the first quarter, which during the back half of March started seeing first effects on TV advertising from the novel coronavirus pandemic.

Its revenue came in slightly below estimates. On the earnings call, management said U.S. TV advertising was down 20 percent in April, with international down 40 percent for the month.

May and June were looking somewhat better so far, with the company seeing some signs of stabilization in China, Taiwan and South Korea.

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Recovered: 0
India
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Recovered: 0
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Recovered: 0
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