Warner Bros. Discovery posts $966M loss, hurt by slumping ad sales and Hollywood strikes
Warner Bros. Discovery(WBD) New York Post·2024-05-09 23:23
Warner Bros. Discovery reported a larger-than-expected quarterly loss, as advertising sales slumped at its cable TV unit and the studio segment struggled with the twin effects of last year’s Hollywood strikes and poor sales of a “Suicide Squad” videogame.Advertising trends in the US and certain international markets have been subdued as businesses responded to the possibility of higher-for-longer interest rates, a drag for Warner Bros Discovery and other media companies.Warner posted a first-quarter loss of ...