Discovery beat Wall Street expectations and raised its guidance slightly on broad-based advertising gains and international growth.
The cable programmer also announced a $1 billion share buyback plan to help return capital to shareholders.
The company's revenue grew 11 percent from the year-ago quarter to $963 million.
Earnings, excluding one-time items came in at 49 cents per share, up from 42 cents in the year-ago period, and higher than analysts expected. (You can read the company's earnings news release here)
Discovery's strong results speak to the rebound in advertising and the strength in cable, trends we're sure to see continue as media giants report over the course of the week, starting with CBS after the bell today and continuing with Time Warner tomorrow morning. CEO David Zaslav said in the earnings call that he's optimistic that ad revenues will grow strongly over the course of the year, and that the ad network is seeing sequential, quarter-over-quarter improvement.