Investments in solar power cut into profits at Discovery Communications, whose U.S. networks increased operating income by 6% in the first quarter.
Net income fell 18% to $215 million, or 37 cents a share, from $263 million, or 42 cents a share a year ago, because of the timing if the company’s investment in solar power, and a $34 million debt extinguishment charge, the company said.
Revenue rose 4% to $1.613 billion.
Read more at broadcastingcable.com.
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