Warner Bros. Discovery linear networks continued to lose ground amid ongoing challenges, weighing on the fourth quarter.
Revenue eased 1% to $10 billion, shy of Wall Street forecasts. Net Some $1.9 billion charges including restructuring expense hit the bottom line as the company swung saw a $640 million loss for the last three months of 2024. But the company beat on other metrics and streaming added 6.4 million subscribers pushing Max total subs to 116.9 million and the division saw a profit. The TV studio and library continued to shine.
Shares bounced 6% higher in early trade on the numbers.
Networks, WBD’s biggest segment, saw revenue dip 5% to $4.8 billion and profits down 13% to $1.9 billion. Ad revenue dropped 17%, driven by domestic networks audience declines of 28% and the continuing softness in the domestic linear advertising market. Distribution revenue eased 5%.
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