Warner Bros. Discovery, Inc. Series A ( (WBD) ) has released its Q3 earnings. Here is a breakdown of the information Warner Bros. Discovery, Inc. Series A presented to its investors.
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Warner Bros. Discovery, Inc., a global leader in media and entertainment, delivers a diverse portfolio of branded content across television, film, streaming, and gaming to audiences worldwide.
In its third-quarter earnings for 2024, Warner Bros. Discovery reported revenues of $9.6 billion, reflecting a 3% decrease compared to the previous year. The company witnessed significant growth in its Direct-to-Consumer (DTC) segment, achieving its largest-ever quarterly subscriber growth, with 110.5 million global subscribers.
Key financial metrics highlighted a net income of $0.1 billion, despite $1.6 billion in acquisition-related expenses. Adjusted EBITDA saw an 18% decline year-over-year, amounting to $2.4 billion. The company also made significant strides in debt reduction, repaying $0.9 billion in Q3, ending the quarter with a net leverage of 4.2x.
Strategically, Warner Bros. Discovery continued its expansion in the streaming market, with a notable 7.2 million increase in DTC subscribers, largely due to the launch of Max in new regions. Additionally, the renewal of its carriage agreement with Charter Communications and the inclusion of Max in all Spectrum TV Select packages were significant milestones.
Looking ahead, Warner Bros. Discovery remains focused on its strategic objectives, including further expansion of its DTC offerings and partnerships to enhance consumer experience in a rapidly transforming industry.
