Warner Bros. Discovery Inc. announced on Thursday that its revenue in the third quarter of fiscal 2024 amounted to $9.6 billion, dropping 4% compared to the same period a year prior. The company's net income stood at $135 million, improving from a net loss of $417 million reported in the same timeframe in 2023. Meanwhile, the entertainment giant's diluted earnings per share landed at $0.05, advancing from a diluted loss per share observed in the third trimester a year ago.
"We saw momentum accelerate in our global Direct-to-Consumer business in Q3. In total, Max delivered 7.2 million net subscriber adds, the strongest quarterly gain since the platform’s launch, resulting in healthy subscriber-related revenue growth and meaningful progress toward achieving our 2025 Direct-toConsumer segment financial objectives," President and CEO David Zaslav commented.
Following the release of the report, Warner Bros. Discovery's shares declined by 0.95% in premarket trading.
