Warner Bros. Discovery (WBD) reported underwhelming Q4 results yesterday, revealing a net loss of another $2.1 billion, including $217 million from its streaming division. This is despite the company touting the success of its new original series “The Last of Us,” which averaged over 15 million viewers, and the recently launched video game Hogwarts Legacy, which saw more than $850 million in retail sales in just two weeks.
The company just barely missed analysts’ estimates of nearly $11.36 billion in revenue, earning $11 billion — a significant jump from $9.82 billion in Q3 2022. Also, the streaming segment increased by 6% in revenue at $2.45 billion, beating Wall Street forecasts of $2.39 billion.
Plus, the company failed to beat subscriber estimates, adding just 1.1 million subs across HBO, HBO Max and Discovery+, versus a predicted 1.6 million net additions, bringing the new total to 96.1 million. WBD also missed expectations last quarter, only gaining 2.8 million subscribers rather than the anticipated net add of 3.27 …
