Warner Bros. Discovery Turns To Profit In Q3

(RTTNews) - Warner Bros. Discovery, Inc. (WBD) reported third quarter net income available to company of $135 million compared to a loss of $417 million, last year. Profit per share was $0.05 compared to a loss of $0.17. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.09 for the quarter. Analysts' estimates typically exclude special items. The company's net income included $1.6 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses. Total adjusted EBITDA was $2.4 billion, a 18% ex-FX decrease compared to the prior year quarter.

Total revenues were $9.6 billion, a 3% ex-FX decrease compared to the prior year quarter. Analysts expected revenue of $9.8 billion for the quarter.

Shares of Warner Bros. Discovery are up 5% in pre-market trade on Thursday.

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