Connect with us

Entertainment

Warner Bros. shares have reached an all-time low: what is happening with the entertainment giant?

Warner Bros. shares  have reached an all-time low: what is happening with the entertainment giant?

 


Warner Bros. shares Discovery Inc. fell to their lowest level since the stock began trading in April 2022, after the entertainment giant reported fourth-quarter revenue and profit below Wall Street forecasts amid decline in television advertising sales and weakness in its studio activities. .

Warner Bros. (Reuters)
Warner Bros. (Reuters)

Sales, at $10.3 billion, fell 7% from the same period last year, the company said Friday, and fell short of analysts' forecasts of $10.5 billion. Advertising revenue in the Television Networks division fell 12% to $1.9 billion. Revenue from its film and television studios was $3.2 billion, down 18% from the previous year.

Hindustan Times – your fastest news source! Read now.

Adjusted earnings before interest, taxes, depreciation and amortization came in at $2.5 billion, compared to an estimate of $2.8 billion. The company lost 16 cents per share, a steeper decline than expected. Analysts also cited a lack of profit forecasts for the year.

ALSO READ- Tom Cruise gets lead role in Alejandro G. Irritu's secret collaboration with Warner Bros. and Legendary

Shares were down 9.3% at $8.68 as of 12:23 p.m. in New York. Previously, they were trading at $8.25.

Warner Bros., the parent company of CNN, TNT and other networks, is grappling with the shift from traditional channels to streaming services. Strikes by Hollywood writers and actors halted production last year.

ALSO READ- Could Nvidia CEO Jensen Huang make the list of the 20 richest in the world?

This business is not without its challenges, CEO David Zaslav said Friday during an earnings conference call. Among them, we continue to face the impacts of ongoing disruption, the pay TV ecosystem and a dislocated linear advertising ecosystem. We challenge our leaders to find innovative solutions.

In an effort to generate additional revenue, the company is selling more programs to other streaming services such as Netflix Inc.

The number of direct-to-consumer subscribers, at 97.7 million, beat analysts' estimates of 96 million. This figure included 1.3 million subscribers from its acquisition of Turkish streaming service BluTV.

For the full year, the company's streaming business, which includes HBO, was profitable.

Sources

1/ https://Google.com/

2/ https://www.hindustantimes.com/business/warner-bros-shares-hit-all-time-low-whats-happening-with-entertainment-giant-101708711457294.html

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]