Discovery Communication presented their Q1-2017 financial results on Tuesday (10-May-2017). Revenues rose 3% YOY to 1.6 billion, unfortunately, net income fell 18% to $215 million. Earnings per share fell by 12% year-over-year to $0.37 per share. It is important to note that the company repurchased $511 million aggregate principal amount of 5.05% senior notes due 2020 and $89 million aggregate principal amount of DCL's 5.625% senior notes due 2019 as part of a debt refinancing. The caused the company to recognize a $54 million debt extinguishment charge. (The company bought the debt back at a price higher than they sold it.) On a per share basis, this is a $0.06 per share loss. Excluding that loss, the company's earnings would have been flat year-over-year. Net-net, we think the company performed within our expectations. In our original note,
