Posted 2/23/2024, 6:24:00 PM
Warner Bros. Discovery Earnings Miss Estimates as Box Office Flops Weigh on Studio Revenue
- Warner Bros. Discovery reported worse-than-expected Q4 earnings, with revenue missing forecasts
- Studio business revenue dropped 17% due to box office flops like "The Color Purple" and "Aquaman 2"
- CEO David Zaslav acknowledged the movie business has been "underperforming" recently
- Hits like "Barbie" had major success, but superhero films are facing "real challenges"
- Cost-cutting boosted free cash flow, but analysts say more growth is still needed