![]() ![]() The streaming service is “is tracking well ahead of our financial projections,” said CEO David Zaslav. It said its total streaming subscribers slipped by 1.8 million to 95.8 million at the end of quarter, compared to the end of the first quarter. The company launched its Max streaming service, rebranding what had been HBO Max and rolling in content from Discovery+. That’s a big improvement from the $518 million it lost on that basis a year earlier but down from the positive adjusted EBITDA of $50 million in the first quarter. The company’s closely watched streaming business reported a narrow $3 million loss on an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) basis. The results did not include the strong box office from the movie “ Barbie,” which was released in the third quarter. ![]() Revenue rose 5% to $10.4 billion, which was close to Wall Street forecasts. The smaller loss came as the company cut costs by $2.2 billion, or 16% compared to a year ago. Analysts surveyed by Refinitiv had expected a net loss of 34 cents a share in the period. The company, the owner of CNN, posted a net loss of $1.2 billion, or 51 cents a share, down sharply from the $3.4 billion, or $1.50 a share it lost over the same period a year ago. Discovery reported a larger-than-forecast loss in the second quarter, but the loss was narrower than a year ago.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |