A year ago, Warner Bros. CEO David Zaslav said then that games were key to the merged companys strategy.
TV numbers felt the impact of strikes last year with fewer episodes delivered.
Ditto with net loss per share of 40 cents.
Hogwarts Legacy gamePortkey Games
Revenue firmed, including a 70% jump in ad sales.
Distribution revenue was also softer as the linear bundle declines.
WBD ended March with $3.4 billion of cash on hand and $43.2 billion of gross debt.
It announced this morning beforeearningsthat it was buying up to $1.75 billion of debt.
Revenue firmed, including a 70% jump in ad sales.
Distribution revenue was also softer.
It announced this morning before earnings that it was buying up to $1.75 billion of debt.
We are pleased with our progress in the first quarter as evidenced by strong results in important KPIs.
Importantly, we once again delivered strong free cash flow, even in our seasonally weakest FCF quarter.
