Warner Bros Discovery reported Q3 2024 revenues of $9.62 billion, down 4% year-over-year, while posting a net income of $141 million compared to a $407 million loss in Q3 2023. Distribution revenue declined 2% to $4.92 billion, while advertising revenue fell 6% to $1.68 billion amid continued softness in the U.S. linear advertising market. Content revenue decreased 4% to $2.72 billion, primarily due to lower theatrical product revenue.The company's DTC segment showed strong growth with revenue up 8% to $2.63 billion, driven by a 15% increase in total subscribers to 110.5 million and higher pricing following Max's international expansion. Networks segment revenue rose 3% to $5.01 billion, benefiting from a 5% increase in domestic contractual affiliate rates despite a 9% decline in linear subscribers. Studios segment revenue fell 17% to $2.68 billion due to tough comparisons with prior...Show More

Warner Bros Discovery reported Q3 2024 revenues of $9.62 billion, down 4% year-over-year, while posting a net income of $141 million compared to a $407 million loss in Q3 2023. Distribution revenue declined 2% to $4.92 billion, while advertising revenue fell 6% to $1.68 billion amid continued softness in the U.S. linear advertising market. Content revenue decreased 4% to $2.72 billion, primarily due to lower theatrical product revenue.The company's DTC segment showed strong growth with revenue up 8% to $2.63 billion, driven by a 15% increase in total subscribers to 110.5 million and higher pricing following Max's international expansion. Networks segment revenue rose 3% to $5.01 billion, benefiting from a 5% increase in domestic contractual affiliate rates despite a 9% decline in linear subscribers. Studios segment revenue fell 17% to $2.68 billion due to tough comparisons with prior year's Barbie release.During the quarter, the company continued to reduce its debt, repaying £400 million of senior notes at maturity and repurchasing $361 million of notes. Operating costs decreased 5% to $9.34 billion through continued cost management initiatives. The company maintained strong liquidity with $3.34 billion in cash and equivalents and access to a $6 billion revolving credit facility as of quarter-end.