News Formal

Warner Bros. Stock Drops. Hollywood Strikes Hit Earnings.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Entertainment firm Warner Bros. Discovery reported a third-quarter loss of 17 cents a share, wider than analysts' expectations.

Warner Bros. Discovery reported a wider-than-expected third-quarter loss and a decline in television revenue amid Hollywood strikes and a difficult advertising market.

Warner reported a third-quarter loss of 17 cents a share on revenue of $9.98 billion. Analysts surveyed by FactSet had expected the entertainment company to report a loss of 9 cents a share on revenue of $9.97 billion.The company reported content revenue for its networks segment of $215 million, a 22% decline from the same period last year.

Newsletter Sign-up SAG-AFTRA actors have been on strike since July with workers demanding higher pay and residuals, as well as more concrete protections against artificial intelligence. Hollywood writers ended their strike at the end of September.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Barbie' success helps Warner Bros Discovery weather strike effects, weak ad marketWarner Bros Discovery (WBD.O) topped third-quarter profit estimates 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.
Source: Reuters - 🏆 2. / 97 Read more »