WBD - Streaming Growth Was Not Enough For Warner Bros. Discovery | Benzinga
On Thursday before the bell, Warner Bros Discovery Inc (NASDAQ: WBD) reported its first quarter results and came short of estimates. Earlier this week, it announced it will be teaming up with The Walt Disney Company (NYSE: DIS) to offer a streaming bundle in an effort to further strengthen its positioning in streaming against market leader, Netflix (NASDAQ: NFLX).
First Quarter Highlights
For the quarter ended on March 31st, WBD reported revenue dropped 7% YoY to $9.96 billion, which was short of LSEG’s estimate of $10.231 billion.
WBD’s bottom line improved from last year’s comparable quarter when it reported a net loss attributable to shareholders of $1.07 billion, or 44 cents per share, to a net loss of $966 million, or 40 cents per share, ...