Warner Bros. Discovery Q2 Profit Plunges 91% on Linear TV Challenges, Lower Theatrical Revenue
But streaming was a bright spot, with revenue climbing 10% and profits soaring 75% during the second quarter The post Warner Bros. Discovery Q2 Profit Plunges 91% on Linear TV Challenges, Lower Theatrical Revenue appeared first on TheWrap .
Warner Bros. Discovery reported a significant decline in profit and revenue for the second quarter, driven by challenges in linear TV, lower theatrical revenue, and ad revenue concerns. The media giant's profit fell 91% to $149 million, or 6 cents per share, with revenue down 11% to $8.7 billion. Despite a 10% growth in direct-to-consumer revenue to $3.08 billion and a 75% increase in profits to $512 million, the overall performance was overshadowed by these setbacks.
The pending merger with Paramount was put on hold due to antitrust lawsuits and ongoing legal battles, which could result in a $7 billion termination fee if the deal does not close by March 4, 2027.
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