Warner Bros. Discovery reported $289 million in streaming revenue during the third quarter of 2024 after posting the largest quarterly subscriber growth since the launch of Max, surpassing 110 million globally.
But the company’s overall results were dragged down by the company’s studio division, which posted a 17% drop in revenue and a 58% drop in profits during the quarter.
Here are the key results:
Net income: $135 million, compared to a loss of $417 million a year ago.
Earnings per share: Earnings of 5 cents per diluted share, compared to an estimated loss of 7 cents per share expected by analysts surveyed by Zacks Investment Research.
Income: $9.6 billion, versus the $9.94 billion expected by analysts surveyed by Zacks Investment Research
Adjusted EBITDA: $2.4 billion, down 19% from $2.97 billion a year ago.
Subscribers: 7.2 million subscribers added for a total of 110.5 million subscribers worldwide.
More to come…
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