Warner Bros. Discoverysaw revenue dip but losses narrow in the last quarter of 2023.
Revenue of $10.3 billion compared with $11 billion the year before, down 7%.
Free cash flow rose to $3.31 billion, from $2.48 billion.
‘Aquaman and the Lost Kingdom’Courtesy
The stock has been in the tank, malingering at about $9.50.
It was up early trading ahead of the numbers but has now settled back in negative territory.
Zaslav and WBD execs will host a call at 8 ET to go over the numbers and take questions.
Studios revenuefell 17% % to $3.17 billion.
Studios operating expenses fell 15%.
Studios adjusted EBITDA (earningsbefore interest, taxes, depreciation and amortization) fell 30%.
Content revenue fell 16% on lower international sports sublicensing.
Streamingrevenue nosed higher, up 3% to pass $2.5 billion.
Losses narrowed to $55 million from $217 million the year before.
Distribution revenue was up 4%.
Content revenue fell 30%.
