Warner Bros Revenue Falls Amid Soft Ad Market
Warner Bros. Discovery ’s revenue fell in the first quarter and the media company posted a steep loss amid continued softness in the advertising market.
The company, formed last year as a result of Discovery’s merger with AT&T’s WarnerMedia, posted revenue of $10.70 billion, below analysts’ expectations of $10.75 billion. Adjusted to reflect year-ago results that account for the merger, revenue fell 6% from a year ago.
Warner Bros. Discovery ’s revenue fell in the first quarter and the media company posted a steep loss amid continued softness in the advertising market.
The company, formed last year as a result of Discovery’s merger with AT&T’s WarnerMedia, posted revenue of $10.70 billion, below analysts’ expectations of $10.75 billion. Adjusted to reflect year-ago results that account for the merger, revenue fell 6% from a year ago.
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