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Silver Spring-based Discovery Communications exceeds $1B in revenue

Discovery Communications Inc., a Silver Spring-based media and entertainment company, reported second-quarter net income of $254 million, or 62 cents per diluted share, versus $106 million, or 25 cents per diluted share, for the comparable 2010 period.

Revenue rose to $1.06 billion compared to $963 million the year before, the first time that revenue exceeded $1 billion.

The results beat the consensus forecast of analysts who expected earnings of 61 cents per share on revenue of $1.05 billion.

The company attributed the increased revenue and profit to growth at both its international and U.S. networks.