reported a big quarterly loss even as its U.S. direct-to-consumer segment turned a profit for the first time ever.
First-quarter revenue was $10.7 billion, roughly in line with analysts' estimates. The company reported a net loss of $1.1 billion and adjusted EBITDA of $2.6 billion.$10.7 billion vs. $10.78 billion expectedWarner Bros. Discovery's stock rose 3% after falling about 5% in early trading.
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Warner Bros. Discovery Gets Wall Street Upgrade As Analysts Weigh Streaming Profit Vs. Earnings Miss'The accelerated timeline for U.S. direct-to-consumer profitability is more important than what appears to largely be a timing-related miss in the first quarter,' notes one finance expert.
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