Home » Warner Bros Discovery (WBD) earnings Q3 2022

Warner Bros Discovery (WBD) earnings Q3 2022

by News Times USA

In this photo illustration, the Warner Bros. Discovery logo is displayed on a smartphone screen.

Rafael Henrique | SOPA Images | Lightrocket | Getty Images

Warner Bros. Discovery reported its third-quarter earnings on Thursday, missing analyst expectations, as it felt the effects of a tough advertising environment and costs associated with its post-merger restructuring.

Here’s what the company reported compared with analysts’ expectations, according to Refinitiv:

  • Revenue: $9.82 billion vs. $10.36 billion expected

The company reported a loss per share of 95 cents, citing macroeconomic headwinds, particularly in advertising.

Shares were effectively flat after hours Thursday after declining 5.6% to $11.97 during the regular trading session.

Warner Bros. Discovery is the result of a merger between AT&T’s WarnerMedia and Discovery, which was completed earlier this year. Since then, the company has been in the midst of significant cost-cutting measures, such as employee layoff and pulling content from its film slate and streaming service HBO Max. 

This is a developing story. Check back for updates.

Source link

Related Articles