The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France on June 22, 2022.Warner Bros Discovery Inc is borrowing a page from the Walt Disney Co playbook, saying it will lean into its popular entertainment franchises — including Superman, Batman, Lord of the Rings and Harry Potter.
Warner Bros Discovery posted a US$2.1 billion loss in the quarter, reflecting charges related to the restructuring of the merged media companies. The company cited signs of gathering momentum, including the popularity of the HBO drama The Last of Us, the fourth HBO series to average more than 15 million viewers, as well as the chart-topping success of its Harry Potter video game Hogwarts Legacy.
Before-tax earnings, or adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation , of US2.6 billion modestly exceeded analysts' forecasts of US$2.58 billion.Warner Bros Discovery also said it had paid down US$7 billion in debt since April. The streaming unit reported an operating loss of US$217 million in the quarter, compared with pro-forma losses of US$728 million a year ago.[[nid:609099]]
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