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WBD's streaming segment topped $3 billion in revenue, but total quarterly revenue fell 11% and missed Wall Street expectations
Mario Tama
Warner Bros. Discovery reported second-quarter earnings on Thursday, with its streaming segment posting 10% revenue growth from a year earlier, even as the company's overall results fell short of analyst expectations amid mounting legal pressure on its proposed merger with Paramount $PARA Skydance.
The streaming segment cleared $3 billion in quarterly revenue, the company said, generating adjusted EBITDA above $500 million. The company credited the results to HBO Max's reach in new international markets and the performance of series such as "Euphoria," "House of the Dragon," and "The Pitt." Warner Bros. Discovery said forthcoming titles such as "Harry Potter" and "The Gilded Age" set up a favorable outlook for the back half of the year.
