Warner Bros. Discovery reported a challenging first quarter with a net loss of $966 million, a 10% improvement year-over-year, amid falling advertising revenue and studio profits. The company's streaming services grew, reaching nearly 100 million subscribers, up by 2 million, and earning a $86 million profit. AMC Entertainment also reported its first-quarter results, showing a narrowed net loss of $163.5 million and total revenues of $951.4 million. Despite a weak box office, AMC's debt was reduced, but the company expects a weaker second quarter. The adjusted EBITDA details were not disclosed.
AMC Q1 Revenue Declines As Advertising And Distribution Woes Continue https://t.co/dafGLK9RZX
Disney and Warner Bros. Discovery Just Reinvented Cable https://t.co/KQ4tkwcuGP
AMC Networks reports Q1 net revenue fell 17% YoY to $596M, operating income fell 36% YoY to $110M, streaming revenue grew 3% YoY to $145M, and 11.5M subscribers (@georgszalai / The Hollywood Reporter) https://t.co/UeZmhSWW9I https://t.co/U2O05kQlgV
AMC Networks' U.S. Ad Sales Drop 13% as Streaming Subscribers Reach 11.5 Million in Q1 https://t.co/cGjaX0SOYj
AMC Networks U.S. Ad Revenue Drops 13 Percent, Streaming Subs Rise to 11.5M https://t.co/xhraPbRlUP
AMC will navigate box-office challenges and tackle $4.5 billion debt load, says Benchmark https://t.co/GtFxTyTPDk
WATCH: Joined @SquawkCNBC with @andrewrsorkin to talk: ▪️$WBD Q1 results ▪️What happens if Turner loses @nba rights to @nbc ▪️Bundlitis ▪️Future of Paramount $PARA https://t.co/N6MY7o3ob2
"The numbers were pretty solid," Bank of America's Jessica Reif Ehrlich says on $WBD. "The miss, in our view, was based on a write-down at the studio, which happens. On the direct-to-consumer side, they beat the number; it was almost $90 million in EBITA. Subs grew 2 million..." https://t.co/tDyeWR8D0d
"The numbers were pretty solid," Bank of America's Jessica Reif Ehrlich says on $WBD. "The miss, in our view, was based on a write-down at the studio, which happens. On the direct-to-consumer side, they beat the number; it was almost $90 million in EBITA. Subs grew $2 million..." https://t.co/6MpC3eXDAD
Warner Bros Discovery's Max Now Has Nearly 100 Million Subscribers, Streaming Profit Up https://t.co/gT7Z2WWCrZ https://t.co/fLHpfifjJ9
Warner Bros. Discovery Narrows Q1 Net Loss 10% to $966 Million, but Studio Profit Drops 70% https://t.co/LpI0oCf7LY
Analyst @RichLightShed talks $DIS, $WBD bundle and @NBA TV rights. https://t.co/DLdKxtvDFi
Warner Bros. Discovery Narrows Q1 Net Loss 10% to $966 Million, But Studio Profit Drops 70% https://t.co/LpI0oCf7LY
$AMC (-4.4% pre) AMC Entertainment (AMC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates https://t.co/GrXIEJgAtp
Warner Bros. Discovery reached nearly 100 million streaming subscribers in a tough quarter for studios and networks, up from 97.7 million subscribers across HBO and streamers Max and Discovery+ at the end of 2023. https://t.co/wDCa8qszRJ
WBD reports Q1 revenue down 7% YoY to $9.96B, and a $966M net loss, down 10% YoY, as TV revenue fell 8% YoY to $5.13B and studio revenue fell 13% YoY to $2.82B (@jmaasaronson / Variety) https://t.co/6ZUdFfpUP2 https://t.co/naUOyJIKrw
Warner Bros. Discovery Is Knocking on the Door of 100 Million Direct-to-Consumer Subscribers https://t.co/ISxmBLlEwu
WBD reports a $86M profit in Q1 for its DTC unit, which includes streaming, up from $50M in Q1 2023, and 99.6M streaming subscribers, up from 97.7M in Q4 2023 (@georgszalai / The Hollywood Reporter) https://t.co/HS56vd59tQ https://t.co/QshimfC4Gk
Warner Bros. Discovery double miss: CEO: "We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter" $WBD: -1.9% PM https://t.co/QaZR4Aq5Iu
Warner Bros. Discovery Misses Q1 Expectations, TV Ad Sales Down 11% as Streaming Revenue Flat https://t.co/Tw7SPkbn4c via @variety
Warner Bros. Discovery first-quarter networks advertising revenue falls 11 percent, "primarily driven by audience declines in domestic general entertainment and news networks, as well as the soft linear advertising market in the U.S. and Latin America" https://t.co/VYYdrQs1v0
Warner Bros. Discovery Hits $86M Streaming Profit, 99.6M Subs, Studios Profit Drops 70 Percent https://t.co/em2qolMViz
Theater chain AMC beats revenue estimates, expects weaker second quarter https://t.co/HVRRYOdrsd https://t.co/rGX3IIcsH5
WarnerBros. Discovery eyeing further job cuts, price hike on streaming: report https://t.co/SWaTBzTm1k
AMC’s Q1 loss narrows as CEO says ‘better times are ahead’ for theater chain https://t.co/cTMcGjTeJM
$AMC Theaters chipped away at its debt in Q1, but revenue stayed flat amid a weak box office https://t.co/azjLJzBuaW
AMC Theatres Shrinks First Quarter Loss, Sees Revenues Dip on Weaker Box Office https://t.co/T7Df06d97z
Warner Bros. Earnings Are Almost Here. Why Wall Street Isn’t Expecting a Blockbuster Quarter. https://t.co/FFP7TZeYp8
$AMC Earnings: -Total revenues were $951.4 million compared to $954.4 million for Q1 2023. - Net loss improved to $(163.5) million compared to a net loss of $(235.5) million for Q1 2023. - Net loss per diluted share was $(0.62) compared to $(1.71) for Q1 2023 - Adjusted EBITDA… https://t.co/uT8Nat9b3N
Warner Bros. Discovery earnings preview: Investors eye NBA updates amid linear TV turmoil https://t.co/Tv6JXj6Y19 by @allie_canal
A Warner Bros. Discovery DCF Analysis Ahead of 1st-Quarter Earnings $WBD $FUBO #stocks #investing #valueinvesting #Value #Commentary #CommunicationServices https://t.co/XX7akqWVwk