Warner Bros. Discovery topped free cash flow expectations in its latest quarter and grew per-user revenue in streaming on a sequential basis. Its shares were headed 4.5% higher in Wednesday's premarket action after the results. The media company posted a second-quarter net loss of $1.24 billion, or 51 cents a share, compared with a net loss of $3.42 billion, or $1.50 a share, in the year-prior period. The latest quarter's net-loss figure included $1.
24 billion, or 51 cents a share, compared with a net loss of $3.42 billion, or $1.50 a share, in the year-prior period. The latest quarter's net-loss figure included $1.66 billion in pre-tax amortization charges related to acquisition-driven intangible assets as well as $146 million in pre-tax restructuring charges. The FactSet consensus was for a 35-cent per-share loss. Total revenue rose to $10.36 billion from $9.83 billion, while analysts were modeling $10.44 billion.