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Warner Bros. Discovery Grows Streaming Subs, Profit In Q1, Studio Revenue Takes A Hit
Warner Bros. Discovery had a mixed first quarter with beats on streaming subs and profit, a drop in revenue from the film studio, which turned around in Q2. Domestic linear advertising dipped.
A net loss of about $500 million includes $1.6 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses. he decrease in box office revenue was primarily due to the strong performance of Dune: Part Two and Godzilla x Kong: The New Empire as well as higher carryover from the fourth quarter 2023 theatrical releases in the prior year. The decrease in home entertainment revenue was primarily due to the robust performance of Wonka and Aquaman and the Lost Kingdom in the prior year.
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