‘Barbie’ brought in $1.5 billion for Warner Bros. Discovery, but the company still lost money last quarter

📆 08/11/2023 20:27:00
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Blockbuster hit 'Barbie' brought in a record $1.5 billion for Warner Bros. Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street's forecasts.

Warner Bros. Discovery, the owner of CNN, needed the revenue boost from 'Barbie' to achieve a narrow 2% increase in sales. The company's revenue came in at just under $2 billion for the quarter.

The company's net loss marked an improvement from the $2.3 billion loss it reported in the same quarter a year earlier. But its loss per share of 17 cents was larger than the forecast of a 6-cent-a-share loss expected by analysts surveyed by Refinitiv.This is a developing story. It will be updated.

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