Shares Warner Bros. Discovery Inc. fell in after-hours trading after the media giant reported fourth-quarter results that came in below expectations.
Shares of Warner Bros. Discovery Inc. fell in after-hours trading on Thursday after the media giant reported fourth-quarter results and a subscriber count that came in below expectations.
The company — the result of a merger last year between AT&T’s WarnerMedia and Discovery — reported a fourth-quarter net loss of $2.08 billion, or 86 cents a share, after a profit of $38 million, or 8 cents a share, in the same quarter in 2021. However, Warner Bros. Discovery has faced more cautious advertisers, ongoing cord-cutting, competition within streaming and a mess created from the merger deal itself. In an effort to shore up the bottom line, the company has cut jobs and content — including CNN+ and a “Batgirl” film set for HBO Max.
“More importantly, we believe 4Q is an opportunity for management to turn the page to 2023 and reset the narrative,” BofA analysts said in a note last month.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Warner Bros. Discovery Tops 96 Million Streaming Subscribers Across HBO, HBO Max and Discovery+HBO, HBO Max and Discovery+ added 1.1 million subscribers in Q4 to end 2022 with a total of 96 million worldwide. That’s up from the 95 million combined global streaming customers Warner Bros…
Consulte Mais informação »
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
Consulte Mais informação »
Warner Bros Discovery revenue misses as media giant posts big lossWarner Bros. Discovery reported its fourth quarter results after the bell.
Consulte Mais informação »
HBO Max Cancels Fan-Favorite Series After Three SeasonsAnother axe has fallen at Warner Bros. Discovery with Variety confirming that HBO Max has [...]
Consulte Mais informação »
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 [...]
Consulte Mais informação »