Warner Bros. Discovery Inc., the company created by Discovery’s merger with AT&T Warner Bros., reported net earnings of $ 456 million, or 69 cents a share, for the first quarter, up from $ 140 million, or 21 cents a share. share a year ago.
Revenue rose to $ 3.159 billion from $ 2.792 billion a year ago.
Convergent estimates spoke of earnings per share of 47 cents and revenue of $ 3.145 billion.
The figures are for Discovery and do not include Warner Media’s first quarter performance, as the deal closed on April 8.
US advertising revenue rose 5% and distribution revenue 11% in the quarter.
International advertising revenue increased by 5% and distribution revenue by 4%.
The company also announced that it had left Russia and removed all its channels and services from this market.
“We are currently assessing the impact of these actions but do not expect it to have a significant impact on our consolidated financial statements,” the company said.
Source: Capital
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