MW Warner Bros. earnings lag estimates but company offers upbeat guidance
Warner Bros. Discovery's stock rose 0.6% early Thursday, after the entertainment giant's quarterly earnings lagged estimates but it offered upbeat guidance for streaming in 2025.
The company (WBD) had a net loss of $494 million, or 20 cents a share, for the quarter, wider than the loss of $400 million, or 16 cents a share, posted in the year-earlier period. Revenue fell to $10.027 billion from $10.284 billion a year ago.
The FactSet consensus was for a loss of 2 cents and revenue of $10.179 billion.
The loss included $1.9 billion of pretax acquisition-related amortization of intangibles, content fair value step-up and restructuring costs.
Distribution revenue rose 2%, excluding the impact of the strong dollar, as growth in direct-to-consumer subscribers was partially offset by continued domestic linear pay TV subscriber declines.
Ad revenue fell 11%, but content revenue was relatively unchanged.
The company said it expects strong DTC subscriber growth to continue through 2025 and it has a clear path to reach at least 150 million global subscribers by end-2026.
(This is a breaking news story. Check back for updates)
-Ciara Linnane
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(END) Dow Jones Newswires
February 27, 2025 07:42 ET (12:42 GMT)
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