Warner Bros Discovery's quarterly revenue rose 13 per cent in the first set of results from the media giant forged by a $43 billion merger between Discovery Inc and AT&T Inc's WarnerMedia assets.
In the three months before the merger's close, total paid streaming subscribers - including those from Discovery+ - rose by 2 million from the fourth quarter, the company said on Tuesday. The bleak results from the streaming pioneer highlight the challenges facing the sector's latest powerhouse, as Wall Street grows skeptical of streaming's long-term prospects due to significant investments in content and an uncertain future.
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