Warner Bros. Discovery posted a streaming profit of $289 million during its third quarter of 2024 after posting its largest ever quarterly growth in subscribers since the launch of Max, topping 110 million globally.
But the company’s overall results were dragged down by the company’s studios division, which posted a 17% decrease in revenue and 58% decrease in profit during the quarter.
Here are the top-line results:
Net income: $135 million, compared to a loss of $417 million a year ago.
Earnings Per Share: A profit of $5 cents per diluted share, compared to an estimated loss of $7 cents per share expected by analysts surveyed by Zacks Investment Research
Revenues: $9.6 billion, compared to $9.94 billion expected by analysts surveyed by Zacks Investment Research
Adjusted EBITDA: $$2.4 billion, an 19% decrease from $2.97 billion a year ago.
Subscribers: Added 7.2 million subscribers for a total of 110.5 million globally
More to come…
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