Warner Bros. Discovery's Barbie Record-Breaking Run Doesn't Cheer Investors, Stock Tanks After Q3 Report

Grand News Network | November 8, 2023

Warner Bros. Discovery, Inc (NASDAQ: WBD) reported a third-quarter FY23 revenue growth of 1% ex-FX year-on-year to $9.98 billion, missing the consensus of $10.00 billion marginally. EPS loss of $(0.17) missed the consensus loss of $(0.06).

Studios revenues were $3.23 billion, up 3% ex-FX Y/Y on a pro forma combined basis. Content revenue increased 3% ex-FX courtesy of higher theatrical revenue due to the strong performance of Barbie and games revenue from the release of Mortal Kombat 1 and the continued performance of Hogwarts Legacy. 

Barbie ...

Full story available on Benzinga.com

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