Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers.
Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share.
Ad revenue in Warner Bros.
The company reported 95.1 million global direct-to-consumer subscribers, a 700,000 decrease from the previous quarter, and less than the analyst projection of 95.4 million subscribers, according to StreetAccount.
Discovery also made headway on paying off its debt load, with $2.4 billion of repayments made during the quarter, the company said.
Persons:
David Zaslav, Max, Gunnar Wiedenfels
Organizations:
Warner Bros, Discovery, Roku, Paramount, Disney, Warner Bros . Discovery, HBO Max
Locations:
U.S