NEW YORK (AP) _ Warner Bros. Discovery, Inc. (WBD) on Thursday reported a loss of $3.42 billion in its second quarter.
On a per-share basis, the New York-based company said it had a loss of $1.50. Losses, adjusted for amortization costs and restructuring costs, came to 11 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $9.83 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $11.53 billion.
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