Stock Market News

Warner Bros Discovery revenue rises in first results since merger

2022.04.26 14:51

Warner Bros Discovery revenue rises in first results since merger
FILE PHOTO: The Warner Bros logo is seen during the annual MIPCOM television programme market in Cannes, France, October 14, 2019. REUTERS/Eric Gaillard/File Photo

(Reuters) – Warner Bros Discovery (NASDAQ:WBD)’s quarterly revenue rose 13% in the first set of results from the media giant forged by a $43 billion merger between Discovery Inc and AT&T Inc (NYSE:T)’s WarnerMedia assets.

The results did not include figures for WarnerMedia, home to the Harry Potter and Batman franchises, TV channels like CNN and streaming service HBO Max.

In the three months before the merger’s close, total paid streaming subscribers – including those from Discovery+ – rose by 2 million from the fourth quarter, the company said on Tuesday.

A rebound in ad spending, the Beijing Olympics in February and Discovery’s lifestyle TV networks such as HGTV and TLC helped draw in subscribers in a quarter that saw Netflix Inc (NASDAQ:NFLX) post its first decline in more than a decade.

The bleak results from the streaming pioneer highlight the challenges facing the sector’s latest powerhouse, as Wall Street grows skeptical of streaming’s long-term prospects due to significant investments in content and an uncertain future.

Warner Bros Discovery’s total revenue rose 13% to $3.16 billion for the first quarter ended March 31.

Net income available to the company rose to $456 million, or 69 cents per share, from $140 million, or 21 cents per share, a year earlier.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,182.31 4.07%
ethereum
Ethereum (ETH) $ 3,486.94 2.26%
tether
Tether (USDT) $ 0.99943 0.05%
xrp
XRP (XRP) $ 2.30 1.66%
bnb
BNB (BNB) $ 703.07 1.55%
solana
Solana (SOL) $ 198.90 4.12%
dogecoin
Dogecoin (DOGE) $ 0.333856 3.37%
usd-coin
USDC (USDC) $ 1.00 0.02%
staked-ether
Lido Staked Ether (STETH) $ 3,482.70 2.19%
cardano
Cardano (ADA) $ 0.925348 1.28%
tron
TRON (TRX) $ 0.256517 1.66%
avalanche-2
Avalanche (AVAX) $ 41.20 5.98%
chainlink
Chainlink (LINK) $ 24.87 2.78%
the-open-network
Toncoin (TON) $ 5.86 4.32%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,136.88 2.43%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 3.43%
sui
Sui (SUI) $ 4.61 1.10%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,791.20 3.83%
hedera-hashgraph
Hedera (HBAR) $ 0.311629 4.35%
stellar
Stellar (XLM) $ 0.390006 4.31%
polkadot
Polkadot (DOT) $ 7.45 1.77%
hyperliquid
Hyperliquid (HYPE) $ 29.89 0.55%
weth
WETH (WETH) $ 3,486.43 2.25%
bitcoin-cash
Bitcoin Cash (BCH) $ 464.97 0.92%
leo-token
LEO Token (LEO) $ 9.49 0.87%
uniswap
Uniswap (UNI) $ 14.22 1.22%
litecoin
Litecoin (LTC) $ 108.41 1.62%
pepe
Pepe (PEPE) $ 0.000019 3.57%
bitget-token
Bitget Token (BGB) $ 5.12 15.89%
near
NEAR Protocol (NEAR) $ 5.55 2.26%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,678.94 2.14%
ethena-usde
Ethena USDe (USDE) $ 0.999309 0.04%
aave
Aave (AAVE) $ 375.77 1.04%
aptos
Aptos (APT) $ 9.77 2.44%
internet-computer
Internet Computer (ICP) $ 11.35 5.40%
usds
USDS (USDS) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.161498 0.49%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.519556 3.11%
vechain
VeChain (VET) $ 0.052237 8.09%
ethereum-classic
Ethereum Classic (ETC) $ 27.61 1.12%
mantle
Mantle (MNT) $ 1.23 1.67%
render-token
Render (RENDER) $ 7.77 0.14%
bittensor
Bittensor (TAO) $ 501.89 1.86%
mantra-dao
MANTRA (OM) $ 3.81 0.15%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.38 1.32%
monero
Monero (XMR) $ 195.24 3.72%
whitebit
WhiteBIT Coin (WBT) $ 24.83 1.54%
dai
Dai (DAI) $ 1.00 0.15%
arbitrum
Arbitrum (ARB) $ 0.807592 0.92%
filecoin
Filecoin (FIL) $ 5.40 4.03%