#WarnerBrosDiscovery Inc (NASDAQ:WBD) reported a higher-than-expected 3Q loss as the ongoing Hollywood strike and weaker advertising revenue hit the entertainment company’s bottom line. Its direct-to-consumer division, however, stood out with a surprise profit from its flagship brand Max. The unit reported adjusted earnings of $111 million before taxes compared to the expected loss of $125 million forecast by the Street. However, subscribers declined by 700,000, partially due to Warner Bros’ move to combine Discovery+ steaming content with Max. Overall, though, the parent company reported a loss of $0.17 per share in the three months ended September, versus an expected loss of $0.08. On an adjusted basis, the company reported a profit of $2.97 billion, also beating Wall Street expectations of $2.89 billion. More at #Proactive #ProactiveInvestors #NASDAQ #WBD http://ow.ly/TSKe1050Hia
