24 Hrs
Source:
Los Angeles Times
Warner Bros. Discovery Earnings Decline
Warner Bros. Discovery reported a significant decline in second-quarter earnings, with a 91% drop in profit and a 46% decrease in theatrical revenue driven by underperforming films. The company’s overall revenue fell 11%, and advertising revenue declined due to the absence of NBA and NHL games, while its streaming division saw a 10% increase in revenue. The ongoing $111-billion deal by Paramount Skydance to acquire Warner Bros. Discovery remains delayed due to antitrust challenges, though British regulators cleared the merger, boosting investor confidence.
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