Warner Bros. Discovery posts $1.24 billion second-quarter loss

Warner Bros Discovery reported a loss of $1.24 billion in the 2nd quarter of 2023. The company recorded a 5.4% growth in its revenue with $10.3 billion between April and June, compared to the same period in 2022. The entertainment industry conglomerate released its financial statement this Thursday (3.Aug.2023). Here’s the full (5 MB, in English).

According to the company’s report, together, the streaming platforms HBO, Discovery + and Max had a drop of 1.8 million subscribers in the 2nd quarter of 2023, now having 95.8 million active users. Total revenue was R$ 2.73 million, an increase of 14% in the annual comparison. Advertisers’ revenues also increased: 25% within the analyzed period.

“The important work we are doing to restructure our company continues to deliver results and drive our financial performance”, said the CEO of Warner Bros. Discovery, David Zaslav.

Warner Studios revenue was $2.58 billion, down 8% compared to the April-June period in 2022, while television channels maintained revenue of $5.75 billion.