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Discovery’s earnings below expectations

Discovery Communications Inc., a Silver Spring-based media and entertainment company, offered a downbeat third-quarter earnings report, with net income available to common stockholders of $206 million, or 55 cents per diluted share, versus $237 million, or 59 cents per diluted share, for the prior-year period.

Analysts polled by Thomson Reuters on average forecast earnings of 63 cents per share. Revenue for the third quarter was $1.076 billion, down slightly from $1.080 billion in last year’s quarter. Analysts forecast revenue of $1.09 billion for the 2012 quarter.

The company said that foreign currency fluctuations, stock-based compensation expenses, and higher taxes and interest expenses contributed to the slide in earnings.

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