Warner Bros Discovery revenue misses as media giant posts big loss

Warner Bros. Discovery reported its fourth quarter results after the bell.

Warner Bros. Discovery reported revenue that missed analysts' estimates as the media industry contends with a soft advertising market.

The company's TV networks segment – which includes cable-TV channels like TNT, TBS and Discovery – decreased 6% to roughly $5.5 billion, as advertising revenue took a drop in particular.$11.01 billion vs. $11.36 billion expected, according to estimates from RefinitivThe company reported a quarter loss of $2.1 billion for the period, or 86 cents per share. It was not immediately clear whether that figure was comparable to analyst estimates from Refinitiv.

The company, which owns streaming services HBO Max and Discovery+, said its global direct-to-consumer streaming subscriber base increased by 1.1 million to 96.1 million by the end of the quarter. However, losses for its streaming segment improved, with a loss of $217 million, "a $511 million year-over-year improvement in losses," the company said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warner Bros Discovery earnings: CEO David Zaslav faces new challengesWarner Bros Discovery CEO David Zaslav faces complex challenges as a combined HBO Max-Discovery streamer preps to launch this spring and staffers fear more layoffs and cuts
Read more »

HBO Max Cancels Fan-Favorite Series After Three SeasonsAnother axe has fallen at Warner Bros. Discovery with Variety confirming that HBO Max has [...]
Read more »

Exclusive Superman 5-Film Collection Lands on 4K Blu-rayTo celebrate the 85th anniversary of the Man of Steel, Warner Bros. is bringing four classic [...]
Read more »

The Race Is On in New ‘Super Mario Bros. Movie’ PosterThis new SuperMarioMovie looks juuuuuust a bit different than the one they made in the ’90s.
Read more »

Super Mario Bros. Movie Nintendo Direct, Final Trailer AnnouncedA Nintendo Direct focusing on The Super Mario Bros. Movie is coming in March, Nintendo announced [...]
Read more »