Warner Bros. Discovery Grows DTC Profit to $289M, Streaming Subs to 110.5M, Led by Olympics

The David Zaslav-led conglomerate posted its third-quarter results.

posted a third-quarter profit gain to $289 million for its direct-to-consumer unit, which includes its streaming and premium pay-TV services, compared with a $111 million year-ago profit.. That was the largest ever quarterly growth in subscribers since the launch of Max, with subscriber growth across all regions.

But Bank of America analyst Jessica Reif-Ehrlich in early October reiterated her “buy” rating and $12 price target on the stock. “We continue to believe WBD has a compelling assortment of assets,” she said. “Upcoming catalysts include 1) easing studio comparisons, 2) continued Max rollout internationally, and 3) potential recovery in advertising.”unveiled during the latest quarter.

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