Discovery (DISCA) shares fell 4.2% even though the company delivered strong second-quarter financial results, which benefited from a recovering global advertising market. Total revenue was up 21% from the same quarter last year to $3.06 billion, beating consensus estimates of $2.97 billion. Revenue growth was driven by an increase in advertising revenue, particularly in the International segment (up 88% year-over-year). Notably, U.S. advertising revenue was up 12%. Propelled by higher revenues, Discovery recorded earnings per share of $1.01, better than analysts' expectations of $0.85 per share.
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