Warner Bros. Discovery posted fourth-quarter revenue slightly below expectations. Its shares fell in after-hours trading.
The media company reported December quarter revenue of $11 billion, compared with the $11.2 billion Wall Street consensus, according to FactSet. Adjusted earnings before interest, taxes, depreciation, and amortization—or Ebitda- came in at $2.6 billion, which was in-line with analyst expectations.
“We’re seeing strong momentum across the enterprise, including our exciting long-term plans for DC Studios, the historic success of our latest HBO series The Last of Us, the significant financial and operating gains in DTC, and the record sales of our newest game Hogwarts Legacy,” CEO David Zaslav said in the news release.
Warner Bros. Discovery
(ticker:
WBD
) shares fell 2.7% to $15.30 following the release.
Earlier on Thursday, Warner Bros. Games, a division of Warner Bros. Discovery, announced its recently launched Harry Potter game Hogwarts Legacy sold more than $850 million worldwide in sales and more than 12 million units during its first two weeks on the market. The numbers made the title the best-selling game launch in the company’s history.
Warner Bros. Discovery stock had risen 66% since the start of the year as of Thursday’s close, but the shares are down 44% over the past 12 months.
Write to Tae Kim at tae.kim@barrons.com
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