New York CNN —Blockbuster hit “Barbie” brought in a record $1.5 billion for Warner Bros.
Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street’s forecasts.
The company, however, reported a narrow profit when taking into account adjustments for certain items, including interest, taxes, depreciation and amortization.
Discovery, the parent company of CNN, needed the revenue boost from “Barbie” to achieve a narrow 2% increase in sales.
The company reported that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22% to just under $3 billion.
Persons:
Barbie ”, Gunnar Wiedenfels, David Zaslav, ”, “, “ Barbie, WBD, EBITDA
Organizations:
New, New York CNN, Blockbuster, Warner Bros, CNN, Writers Guild of America, SAG, Netflix, Apple
Locations:
New York