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Warner Bros. Discovery's latest quarter was characterized by a strike and a soft ad market, which led to a 12% decline in advertising revenue at its TV networks. Despite these challenges, the company met its quarterly revenue estimates, boosted by the box-office success of 'Barbie'. This success helped swing the firm to a profit in streaming, but it also lost 700,000 direct-to-consumer subscribers in Q3. The company's stock has taken a hit and CEO David Zaslav has warned of a 'generational disruption'.
Warner Bros. Discovery stock sinks as ad revenue falls and Zaslav warns of 'generational disruption' https://t.co/BNfqyKWRLI https://t.co/BNfqyKWRLI
Warner Bros Discovery says strike effects, weak ad market to linger into 2024 https://t.co/xVUhtGlyc7 https://t.co/CIpCFCo4EL
Warner Bros Discovery says strike effects, weak ad market to linger into 2024 https://t.co/lwdFzklTZL
Warner Bros. Discovery Sheds 700,000 Direct-to-Consumer Subscribers in Q3 https://t.co/BJlEGnvbaL
Warner Bros. Discovery saw the box-office success of “Barbie” offset by a 12% decline in advertising at its portfolio of TV networks. https://t.co/ntvCqF1xz3
Warner Bros. Discovery Sheds 700,000 Direct-to-Consumer Subscribers in Q3 https://t.co/BJlEGnvbaL
Warner Bros. Discovery Sees Streaming Swing to a Profit, "Barbie" Power at Studios But Ad Market Still Sluggish https://t.co/71oNFSRsJa
Warner Bros. Discovery Sees ‘Barbie’ Boost & Free Cash Flow In Mixed Quarter Squeezed By Strike, Soft Ad Market https://t.co/4BP3JAaDvc
Warner Bros. Discovery Narrows Q3 Loss, But 'Barbie' Success Tempered by Advertising Declines https://t.co/Ca4OC87NuT
⚠️ WARNER BROS DISCOVERY MEETS QUARTERLY REVENUE ESTIMATES AMID STRIKE, SLUGGISH AD MARKET Full Story → https://t.co/NRMQYpbabf