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The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter. The company posted a net loss of $417 million, narrowing from a $2.3 billion net loss from a year-ago period. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation created an uncertain climate for marketers. The company's streaming unit posted an adjusted core profit of $111 million, compared with a loss of $634 million a year ago. Warner Bros Discovery had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter.

Persons: Mario Anzuoni, Gunnar Wiedenfels, there's, Wiedenfels, David Zaslav, Michael Schulman, Barbie, Thomas Hayes, Samrhitha, Helen Coster, Saumyadeb Chakrabarty, Anil D'Silva, Mark Porter Organizations: Paramount Pictures Studios, REUTERS, Warner Bros Discovery, SAG, Running, HBO, Thomson Locations: Los Angeles , California, U.S, Bengaluru, New York

Small toy figures with laptops and smartphones are seen in front of displayed Comcast logo, in this illustration taken December 5, 2021. Revenue for the media giant’s third quarter rose 0.9% to $30.12 billion, beating analysts’ estimates of $29.68 billion, according to LSEG data. Comcast lost 18,000 broadband customers in the quarter, as it faces more competition from wireless carriers such as Verizon (VZ.N) and T-Mobile (TMUS.O), which offer broadband. Paid subscribers increased by 4 million in the third quarter, to 28 million, from the 24 million reported in the previous quarter. That growth was driven partly by the addition of Comcast subscribers who had been getting Peacock for free, and converted to paid subscribers.

Persons: Dado Ruvic, FactSet, Peacock, Oppenheimer, Helen Coster, David Gregorio Our Organizations: Comcast, REUTERS, Revenue, Verizon, Dominion, Thomson Locations: New York, Bengaluru

Disney owns two-thirds of Hulu, while Comcast owns the rest. "Hulu has far greater value than when they struck the $27 billion agreement with Disney ... Comcast wants to get maximum value out of this." Hulu had 48.3 million subscribers at the end of the most recent quarter, compared with 24 million paid subscribers for Comcast's Peacock streaming service and 105.7 million global subscribers for Disney+. Greenfield applauded Disney CEO Bob Iger for agreeing to accelerate the Hulu purchase, saying that waiting until next year is hampering Disney's strategic flexibility. "Whatever Disney chooses to do, having partial ownership of Hulu with Comcast makes anything else they want to do more challenging," Greenfield said.

Persons: Mike Blake, Brian Roberts, ” Roberts, Roberts, Goldman Sachs, ”, Rich Greenfield, Greenfield, Bob Iger, Disney, Iger, Samrhitha, Helen Coster, Dawn Chmielewski, Nick Zieminski, Stephen Coates Organizations: Comcast NBC, REUTERS, Comcast, Disney, “, Technology, Hulu, Thomson Locations: Los Angeles , California, U.S, Hulu, Bengaluru, New York, Los Angeles

REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 6 (Reuters) - Comcast (CMCSA.O) has moved up the date for the sale or purchase of its remaining stake in Hulu to Disney (DIS.N) to Sept. 30 this year, CEO Brian Roberts said on Wednesday. Disney owns two-thirds of Hulu, while Comcast owns the rest. Under a 2019 agreement, either company can trigger a sale or purchase of Comcast's 33% stake to Disney as early as January 2024. Hulu had 48.3 million subscribers at the end of the most recent quarter, compared with 24 million paid subscribers for Comcast's Peacock streaming service and 105.7 million global subscribers for Disney+. (This story has been corrected to say that Comcast has pulled forward the date, not extended, in the headline.

Persons: Mike Blake, Brian Roberts, ” Roberts, Roberts, Goldman Sachs, ”, Samrhitha, Helen Coster, Arun Koyyur, Anil D'Silva, Nick Zieminski Organizations: Comcast NBC, REUTERS, Comcast, Disney, “, Technology, Hulu, Thomson Locations: Los Angeles , California, U.S, Hulu, Bengaluru, New York

Aug 3 (Reuters) - Warner Bros Discovery (WBD.O) warned Thursday that uncertainty over the dual strikes by Hollywood writers and actors could impact the timing of its film slate and its ability to produce and deliver content. The Alliance of Motion Picture and Television Producers, which represents Warner Bros Discovery and the other major studios in negotiations, asked to meet on Friday with the writers' guild to discuss the possibility of resuming talks. Warner Bros Discovery's revenue took a hit in the second quarter due to soft box office results, including the underperformance of the DC Comics-inspired film, "The Flash." The exterior of the Warner Bros. Under Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business more efficiently.

Persons: David Zaslav, Fran Drescher, Alyssa Pointer, Jamie Lumley, Samrhitha, Helen Coster, Mark Porter, Jonathan Oatis, Shounak Dasgupta, Marguerita Choy Organizations: Warner Bros Discovery, Hollywood, Writers Guild of America, Screen, SAG, Hasbro, Alliance, Television Producers, Paramount, Times, Variety, Warner Bros, DC Comics, Warner Bros . Discovery, Alliance of Motion Pictures, REUTERS, Discovery Inc, Total, HBO, Max, Thomson Locations: New York, Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru

The exterior of the Warner Bros. REUTERS/Alyssa Pointer/File photoAug 3 (Reuters) - Warner Bros Discovery (WBD.O) warned Thursday that the dual Hollywood strikes by writers and actors could hit its flagging studio business already bruised by high-profile box office flops including "The Flash." The shutdowns "may have implications for the timing and performance of the remainder of the film slate as well as our ability to produce and deliver content," Warner Bros Discovery CFO Gunnar Wiedenfels said. Total global subscribers for its HBO, Max and Discovery+ services stood at 95.8 million at the end of the quarter. Under CEO David Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business more efficiently.

Persons: Alyssa Pointer, Gunnar Wiedenfels, Jamie Lumley, David Zaslav, Zaslav, Samrhitha, Helen Coster, Mark Porter, Jonathan Oatis, Shounak Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Hasbro, Warner Bros, Discovery Inc, Total, HBO, Max, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

The exterior of the Warner Bros. REUTERS/Alyssa Pointer/File photoAug 3 (Reuters) - Warner Bros Discovery (WBD.O) posted a smaller loss for the second quarter on Thursday as the media conglomerate benefited from cost cuts, sending its shares up nearly 4% in premarket trading. Under Chief Executive Officer David Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business, which includes the Max streaming service, more efficiently. Net loss for the quarter came in at $1.24 billion, compared with a loss of $3.42 billion a year earlier. It lost 1.8 million subscribers, more than analysts' estimates of 1.1 million, reporting 95.8 million total global subscribers for its HBO, Max and Discovery+ services.

Persons: Alyssa Pointer, David Zaslav, Max, Zaslav, Samrhitha, Helen Coster, Shounak Dasgupta, Mark Porter Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Media, Warner Bros, Consumer, HBO, Discovery Inc, Max, HBO Max, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, United States, Bengaluru, New York

The company's total revenue rose 1.7% to $30.51 billion in the quarter, beating analysts' average estimate of $30.13 billion, according to Refinitiv data. Ad revenue in content and experiences fell 4.9% from the same quarter a year prior, in a weak but stable advertising environment. Paid subscribers increased by two million in the second quarter, to 24 million, from the 22 million it reported in the previous quarter. Theme parks revenue climbed 22.4%, thanks to demand for attractions such as “Super Nintendo World” in Hollywood and Osaka, Japan. Overall, net income attributable to Comcast rose 25.1% to $4.25 billion in the quarter.

Persons: Mario, Peacock, Factset, Helen Coster, Deepa Babington Organizations: YORK, Comcast, Revenue, Nintendo, Competition, Mobile US Inc, Verizon Communications Inc, Thomson Locations: Hollywood, Osaka, Japan

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