Warner Bros. Discovery: Q1 Earnings Snapshot
By AP News
Published - May 05, 2023, 07:28 AM ET
Last Updated - Jun 21, 2023, 10:26 PM EDT
NEW YORK (AP) — NEW YORK (AP) — Warner Bros. Discovery, Inc. (WBD) on Friday reported a loss of $1.07 billion in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 44 cents. Earnings, adjusted for amortization costs and restructuring costs, were 18 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $10.7 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $10.63 billion.
