Warner Bros Discovery posted a bigger-than-expected quarterly loss in its third quarter results this week, just as the company is fielding interest from potential buyers.
WBD, which houses HBO, CNN, and the Warner Bros. film and TV studios, posted a $148m loss. In contrast, a year ago, the company reported a profit of $135m for the third quarter.
WBD’s revenues stood at $9.05bn in the third quarter, down 6% from the same period in 2024.
WBD's legacy cable TV business struggled as audiences continued to switch to streaming. The unit posted a 22% decline in revenue, falling sharply after the Olympic Games boosted viewership last year.
However, Warner Bros studio put in a strong performance thanks to hit releases such as Superman, Weapons, One Battle After Another, and The Conjuring: Last Rites. The company reported 2.3 million global streaming subscriber additions for the third quarter, taking the total number of subscribers to its HBO Max and Discovery+ platforms to 128 million.
WBD said it had seen strong growth for HBO Max following its launch in Australia earlier this year.
WBD is preparing to launch HBO Max in the UK, Italy, and Germany next year. It is also targeting 150 million subscriptions globally by the end of 2026.
Last month, WBD said it is considering a sale, after "multiple parties" made “unsolicited” offers to buy the company.
David Ellison's Paramount Skydance is among the companies reported to be interested in an acquisition of the rival studio.
According to reports, Netflix recently began exploring a bid for the studio and streaming divisions of Warner Bros Discovery and has hired an investment bank to weigh up an offer. Discover more here.
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