Warner Bros Discovery misses revenue estimates on weakness in studio unit
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Warner Bros Discovery missed Wall Street estimates for third-quarter revenue due to a weak performance in its studio unit, attributed to fewer blockbuster releases.
November 07, 2024 | 12:30 pm
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Warner Bros Discovery's third-quarter revenue fell short of expectations, primarily due to a decline in its studio business, which suffered from a lack of blockbuster releases.
The company's revenue miss is directly linked to its studio unit's underperformance, which is a significant part of its business. This is likely to negatively impact the stock price in the short term as investors react to the earnings miss.
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