Warner Bros. Discovery (WBD) Q1 Earnings Miss, Ad Sales Fall

Warner Bros. Discovery (WBD) reported first-quarter 2024 loss of 40 cents per share, wider than the Zacks Consensus Estimate of a loss of 24 cents. The company had incurred a loss of 44 cents in the year-ago quarter.Revenues decreased 6.9% year over year to $9.95 billion, which missed the Zacks Consensus Estimate of $10.28 billion.Advertising revenues decreased 6.5% year over year to $2.14 billion. Distribution revenues dropped 3.4% year over year to $4.98 billion. Content revenues declined 13.4% year over ...