Warner Bros. Discovery reported third quarter earnings before the bell Wednesday.
Warner Bros. Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers.
Here’s what the company reported for the quarter ended Sept. 30, versus analysts’ estimates, according to Refinitiv:
Warner Bros. Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, down from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share.
The company’s stock slide comes after a media rally late last week driven by Roku and Paramount earnings. Rival media giant Disney is set to report earnings after the closing bell Wednesday.
