It was a tale of ups and downs for many companies reporting Q3 earnings results this week. For Discovery Communications, gains on Wall Street were seen after the company offered results that beat FactSet consensus estimates. For Entravision, a 19.2% slide in its stock value came following the release of its earnings performance Wednesday afternoon.
We start with Discovery, which saw its net income dip to $117 million (16 cents per share) from $218 million (38 cents).
However, adjusted EPS is what Wall Street is looking at, so restructuring charges tied to the Scripps Networks acquisition isn’t considered. On that basis, EPS was 79 cents.
This was better than expected by financial analysts, as the FactSet Consensus Estimate was for adjusted EPS of 59 cents.
But, revenue climbed to $2.592 billion from $1.651 billion, and that slightly missed the FactSet consensus of $2.596 billion.
Investors seemed pleased, as DISCA was up 2.2% to $33.80 on Thursday.
For Entravision, the media company focused on Hispanic consumers, shares drooped by $1.04 to $4.37 before recovering in immediate after-hours trading to $4.5713 as of 4:38pm Eastern.
Trading was massive, with 1.34 million shares traded; average trading volume is 358.8 million shares.
Entravision reported Q3 EPS of 2 cents per share. The Zacks Consensus Estimate was for EPS of 4 cents. Its net revenue missed Zacks estimates by 2.03%.
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