Warner Bros. Discovery reported first-quarter earnings before the bell on Thursday.
Warner Bros. Discovery reported first-quarter results before the bell on Thursday that missed on the top and bottom lines.On Thursday the company said it repaid $1.1 billion in debt during the quarter, and also announced a $1.75 billion cash tender aimed at further reducing its debt.Warner Bros. Discovery — which owns streaming service Max, a portfolio of cable TV networks including TNT and Discovery, and a film studio — said revenue fell 7% to $9.
The company said total adjusted earnings before interest, taxes, depreciation and amortization were down roughly 20% during the first quarter to $2.1 billion, noting its"Suicide Squad: Kill the Justice League" video game generated significantly lower revenues.The company's cash position improved, with free cash flow increasing to $390 million, a $1.3 billion improvement from the same quarter last year, the company noted.
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