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Warner Bros Discovery meets quarterly revenue estimates amid strike, sluggish ad market

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SaltWire's Atlantic regional weather forecast for November 7, 2023 | SaltWire - Warner Bros Discovery met Wall Street estimates for quarterly revenue on Wednesday, as the box-office hit"Barbie" helped offset a sluggish advertising market and a studios segment starved of content due to two Hollywood strikes.

Although Hollywood's film and television writers ratified a new, three-year contract in September, ending their 148-day work stoppage, members of the SAG-AFTRA actors union have been on strike since July, roiling the industry's 2024 film slate and depriving media companies of new content to sell. The media company forged by the union of WarnerMedia and Discovery reported overall third-quarter revenue of $9.98 billion, in line with analysts' estimate of $9.98 billion, according to LSEG data.

 

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