The entertainment company reports 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.
In the same period last year, the company posted a loss of 95 cents a share on revenue of $9.82 billion. “TV revenue 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 in the news release.
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