WBD sinks over 5% in premarket on mixed earnings - Breaking The News

WBD sinks over 5% in premarket on mixed earnings

23 February

1 min read

EPA-EFE/ALLISON DINNER ID: 11907136

The shares of Warner Bros. Discovery Inc. (WBD) dropped over 5% during premarket trading on Friday as investors digested the company's fourth-quarter financial results.

The entertainment company revealed that its revenue for the last trimester of fiscal 2023 fell by 7%, impacted by Hollywood actors and writers' strike, and stood at $10.28 billion. Meanwhile, its net loss landed at $392 million, improving from the net loss of $2.08 billion registered in the same period the year before.

Warner Bros. Discovery's stock plunged 5.75% at 8:14 am ET, selling for $9.01 apiece.

warner bros discovery

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