Warner Bros. Discovery Inc., the parent of CNN and HBO, reported fourth-quarter sales that missed analysts’ estimates, dragged down by its traditional TV business, though its streaming service is winning new subscribers.
Overall revenue slipped 2% to 10ドル billion in the three months ended Dec. 31, missing analysts’ forecasts for 10ドル.22 billion. Adjusted earnings before interest, taxes, depreciation and amortization were 2ドル.7 billion, the New York-based company said in a statement on Thursday. That surpassed Wall Street’s estimates for 2ドル.66 billion.
The media giant showed improvement at its direct-to-consumer unit, which includes its Max streaming service, and reported adjusted Ebitda of 409ドル million, compared to analysts’ expectations of 273ドル million. Warner Bros. also added 6.4 million Max subscribers during the quarter, gaining momentum after launching service in Latin America and Europe last year. Advertising on the platform rose.
In a letter to subscribers, management set a goal for 150 million streaming subscribers in 2026. The company reported 116.9 million at the end of the fourth quarter.