) stock fell as much as 15% in early trading Wednesday after the company noted ongoing weakness in the ad market, saying it could impact visibility for 2024.
The company's total streaming subscribers for the third quarter were 95.1 million, a decrease of 700,000 global subscribers since the end of the second quarter.WBD CEO David Zaslav said in the earnings release that both of those offerings "are showing early signs of contributing to increased engagement and lower churn on Max."
Revenue of $9.98 million came in on par with consensus estimates compiled by Bloomberg and increased 1% excluding foreign exchange compared to Q3 2022.Free cash flow jumped to over $2 billion, stronger than analysts expected, largely due to lower content spending from the Hollywood strikes and continued
TV revenue, however, "declined significantly primarily due to certain large licensing deals in the prior year and the impact of the WGA and SAG-AFTRA strikes," the company said. 'The stupidest investment I ever saw': Charlie Munger trashes 2 popular investment trends — here's what Warren Buffett's business partner prefers insteadRated lowest margin fees by StockBrokers.com. Borrow against your securities at low cost. Rates subject to change. Your capital is at risk.
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