Warner Bros Discovery posted revenue of $8.72 billion, down 11% from a year earlier; operating income was $237 million versus an operating loss.
Net income available to shareholders fell 91% to $149 million, while GAAP diluted EPS slipped to $0.06 from $0.63.
Advertising revenue dropped 22% to $1.72 billion on the absence of the NBA and continued domestic linear audience declines.
Adjusted EBITDA fell 4% to $1.88 billion, as streaming gains were more than offset by declines in studios and global linear networks.
Free cash flow decreased 19% to $572 million; the company repaid its $15 billion bridge loan with a $13 billion Term Loan B and a EUR 1.7 billion Term Loan B.
WBD•
