Warner Bros. Discovery (WBD, $15.70) shares fall, on disappointing Q4 results

Warner Bros. Discovery posted a net loss of -86 cents per share loss in the quarter (due to restructuring charges related to the merger between Discovery Inc and AT&T spin-off Warner Media).

The media giant’s revenue came in at $11 billion, slightly below analysts’ estimates of nearly $11.36 billion. Nonetheless, the figure is higher than $9.82 billion in Q3 2022. Revenue from the company’s streaming division rose by +6% to $2.45 billion, beating Wall Street expectations of $2.39 billion.

The company added 1.1 million subscribers across HBO, HBO Max and Discovery+, versus an expected 1.6 million net additions. That brings the total to 96.1 million.

Advertising revenue at the company's networks business (which includes HGTV, Discovery Channel and TLC) is not "looking much better in Q1 2023", according to executives.  Revenue in the segment was down -14%  from the year-ago quarter.