Discovery DISCA is set to report third-quarter 2020 results on Nov 5.For the quarter, the Zacks Consensus Estimate for earnings has decreased a penny to 68 cents per share over the past 30 days. The figure indicates a 21.8% decline from the year-ago reported figure.The consensus mark for revenues, pegged at $2.51 billion, implies a 6.3% decline from the year-ago reported figure.Notably, the company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing the same in the remaining one, the average surprise being 2.93%.Discovery, Inc. Price and EPS Surprise Discovery, Inc. price-eps-surprise | Discovery, Inc. QuoteLet’s see how things are shaping up for this announcement.Factors to ConsiderDiscovery’s third-quarter 2020 performance is expected to have benefited from an improved ad-spending environment. The company generates more than 55% of its revenues from advertising. Sequential recovery is expected to have aided Discovery’s top-line growth in to-be-reported quarter.Discovery is also likely to have gained traction from the growing popularity of Food Network. Further, the increasing availability of its content across linear, digital over-the-top platforms like Hulu and Sling TV is expected to have improved traffic. Strong demand for unscripted content is expected to have aided Dplay.Moreover, resumption of sporting events globally is expected to have boosted growth for Eurosport, Discovery’s primary sports-oriented linear network.International revenues are also likely to have got a boost from the U.K. TV Lifestyle business.However, the bottom-line performance is likely to reflect incremental spending on direct-to-consumer initiatives and International growth efforts during the to-be-reported quarter.What Our Model SaysPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.Discovery has an Earnings ESP of +1.47% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Other Stocks to ConsiderHere are some other companies worth considering as per our model, these too have the right combination of elements to beat on earnings this reporting cycle:TEGNA TGNA has an Earnings ESP of +15.39% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Lionsgate LGF.A has an Earnings ESP of +45.00% and is #2 Ranked.ViacomCBS VIAC has an Earnings ESP of +8.23% and a Zacks Rank of 2.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Discovery, Inc. (DISCA): Free Stock Analysis Report TEGNA Inc. (TGNA): Free Stock Analysis Report Lions Gate Entertainment Corp. (LGF.A): Free Stock Analysis Report ViacomCBS Inc. (VIAC): Free Stock Analysis Report To read this article on Zacks.com click here.