TECH - Warner Bros. Discovery's Q1 Revenue Drops as Audience and Market Challenges Persist | Benzinga
Warner Bros. Discovery, Inc (NASDAQ:WBD) reported a fiscal first-quarter revenue decline of 7% ex-FX year-on-year to $9.96 billion, missing the consensus of $10.23 billion.
EPS loss of $(0.40) missed the consensus loss of $(0.23). Net loss was $(966) million versus $(1.07) billion year-over-year.
The company reported an adjusted EBITDA of $2.10 billion, a 20% ex-FX decline, primarily driven by the success of Hogwarts Legacy in the prior year quarter, while Suicide Squad: Kill the Justice League generated significantly lower revenues.
Studios revenues were $2.82 billion, down 13% ex-FX Y/Y on a pro forma combined basis. Content revenue decreased 14% due to ...