WBD Stock Rises on Q3 Streaming Strength, Studios Dampens Revenues
Warner Bros. Discovery(WBD) ZACKS·2024-11-08 17:30
Warner Bros. Discovery (WBD) stock rose nearly 12% after the company reported strong streaming results in the third quarter of 2024, including its largest-ever quarterly subscriber growth since the launch of Max. However, revenues missed expectations as the media giant struggled with a drop in its studios segment and continued declines from its linear TV business.Revenues came in at $9.62 billion, missing the Zacks Consensus Estimate by 3.4% and declining 3.6% year over year. The company reported adjusted e ...