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Discovery revenue grows as global networks accelerate

Discovery Communications Inc. reported Tuesday that its first-quarter revenue was up 22 percent from one year before.

The Silver Spring-based television programming company brought in $1.4 billion during the quarter, led by 51 percent growth in its international networks. U.S. networks grew 3 percent.

Net income, however, was roughly even year over year, at $230 million or 66 cents per diluted share, versus $231 million or 63 cents per diluted share in 2013.

Discovery’s international revenue is beginning to catch up to the U.S. business. International brought in $671 million in the quarter, while U.S. brought in $708 million.

“There is no question that the U.S. is a more mature market,” said CEO David Zaslav.

Zaslav said Tuesday in a conference call with investors that the Discovery Channel’s viewership was down slightly year over year, due to competition from the Olympics. But viewership has recovered in April, he said.