(Reuters) – Warner Bros Discovery missed Wall Street estimates for third-quarter revenue on Thursday, as its studio business took a hit from fewer blockbuster releases.
With releases such as “Beetlejuice Beetlejuice” in the July-September quarter, Warner Bros Discovery’s studio division has struggled to repeat last year’s explosive success of Margot Robbie-starrer “Barbie”, the highest grossing film of 2023.
However, its streaming segment added 7.2 million direct-to-consumer subscribers, beating estimates for 6.28 million additions, according to data compiled by Visible Alpha.
The company reported revenue of $9.62 billion for the three months ended September, compared with analysts’ average estimate of $9.80 billion, according to data compiled by LSEG.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Devika Syamnath)
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