{"id":33068,"date":"2023-11-08T16:00:12","date_gmt":"2023-11-08T16:00:12","guid":{"rendered":"https:\/\/microloannexus.com\/news\/warner-bros-discovery-stock-sinks-15-as-ad-revenue-falls-zaslav-warns-of-generational-disruption\/"},"modified":"2023-11-08T16:00:14","modified_gmt":"2023-11-08T16:00:14","slug":"warner-bros-discovery-stock-sinks-15-as-ad-revenue-falls-zaslav-warns-of-generational-disruption","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=33068","title":{"rendered":"Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of &#8216;generational disruption&#8217;"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Warner Bros. Discovery<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers.<\/p>\n<p>Here&#8217;s what the company reported for the quarter ended Sept. 30, versus analysts&#8217; estimates, according to LSEG, formerly known as Refinitiv:<\/p>\n<ul>\n<li><strong>Loss per share<\/strong>: 17 cents vs. 6 cents expected<\/li>\n<li><strong>Revenue<\/strong>: $9.98 billion vs. $9.98 billion expected<\/li>\n<\/ul>\n<p>Warner Bros. Discovery\u00a0reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share.<\/p>\n<p>The company&#8217;s stock slide comes after a media rally late last week driven by <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Roku<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Paramount<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> earnings. Rival media giant <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">Disney<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> is set to report earnings after the closing bell Wednesday.<\/p>\n<p>Warner Bros. Discovery&#8217;s results reflected dire trends in the legacy media industry. Ad revenue in Warner Bros. Discovery&#8217;s TV networks segment fell 12% compared to a year earlier, reflecting a decline in audiences for general entertainment and news programming, as well as soft ad trends in the U.S., the company said.<\/p>\n<p>The company also warned of a number of obstacles heading into 2024, including sluggish ad revenue and ongoing impacts from the actors&#8217; strike.<\/p>\n<p>&#8220;This is a generational disruption we&#8217;re going through. Going through that with a streaming service that&#8217;s losing billions of dollars, it&#8217;s really difficult to go on offense,&#8221; CEO David Zaslav said during the earnings conference call. <\/p>\n<p>The third quarter marked the first full quarter since Warner Bros. Discovery launched its flagship streaming service Max in May, which merged content from HBO Max and Discovery+.<\/p>\n<p>The company reported 95.1 million global direct-to-consumer subscribers, a 700,000 decrease from the previous quarter, and less than the analyst projection of 95.4 million subscribers, according to StreetAccount.<\/p>\n<p>The &#8220;modest sequential loss&#8221; was largely a result of an &#8220;extraordinarily light content slate,&#8221; CFO Gunnar Wiedenfels said during the earnings call.<\/p>\n<p>The streaming business did swing to a profit in the quarter, however.<\/p>\n<p>Warner Bros. Discovery also made headway on paying off its debt load, with $2.4 billion of repayments made during the quarter, the company said. It still has $45.3 billion in gross debt.<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/08\/warner-bros-discovery-wbd-q3-earnings.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warner Bros. Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers. Here&#8217;s what the company reported for the quarter ended Sept. 30, versus analysts&#8217; estimates, according to LSEG, formerly known as Refinitiv: Loss per share: 17 cents vs. 6 cents expected Revenue: $9.98<\/p>\n","protected":false},"author":1,"featured_media":33069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-33068","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of &#039;generational disruption&#039; | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Warner Bros. 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