Warner Bros. Discovery Q2 Results Hit By ‘The Flash’ And Soft Ad Climate, But Free Cash Flow Doubles To $1.7B
deadline.comWarner Bros. Discovery reported spotty financial results in the second quarter, but delivered better-than-expected free cash flow.
The company posted a loss per share of 51 cents, which was worse than the 42 cents expected by Wall Street analysts. Revenue dipped 4% from the prior-year quarter to come in at $10.358 billion, a shade less than the Street’s number.
Ditto streaming subscriber numbers, which showed a loss of 1.8 million subscribers and a tally of 95.8 million. The disappointing release of The Flash and ongoing struggles in the ad sales marketplace and the challenged linear TV business weighed on results in the networks and studio divisions.
The meteoric success of Barbie in July did not count in the second quarter, but that didn’t stop the company from shading its second-quarter release bright pink in celebration of the Mattel breakout.
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