Discovery Inc (DISCA) released its first quarter results on Thursday, April 29, 2021. The company reported net earnings of $0.21 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 62 percent compared to the same period a year ago.
The company was founded in 1985 and is headquartered in Silver Spring, Maryland. Discovery, Inc., a media company, provides content across various distribution platforms in approximately 50 languages worldwide. It operates in two segments, U.S. Networks and International Networks.
Discovery's revenue decreased 3 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 91.91% for the first quarter compared to the same period in the previous year, and operating margins decreased to 14.72% over the same period. Net earnings for past trailing twelve months were $893.0 million, down 52% from the prior year.
Moving on to the balance sheet, Discovery’s cash levels jumped 38% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 16.01% this past year. The current ratio for Discovery now stands at 1.87. The company decreased shares outstanding by 1.17%.
Shares of DISCA are currently trading around $37.95. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 25.96 and price to book ratio of 2.34.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, April 30, 2021.