Discovery on Wednesday reported lower, but better-than-expected financials, including U.S. advertising revenue, for the second quarter amid the novel coronavirus pandemic, which had its first full-quarter impact in the period.
U.S. ad revenue ended the three-month period down 14 percent, compared to the average Wall Street forecast for a 16 percent drop.
The company's U.S. TV advertising had initially been looking down 20 percent in April, while May and June were looking somewhat better, management had previously said.