Warner Bros. Discovery posted a fourth quarter loss after seeing $1.9 billion in charges even as it added 6.4 million streaming subscribers

Warner Bros. Discovery Inc., the parent of CNN and HBO, reported fourth-quarter sales that missed analysts’ estimates, dragged down by its traditional TV business, though its streaming service is winning new subscribers.

Warner Bros Discovery is shutting down three of its videogame development studios in a move aimed at boosting profitability for its gaming division amid a sluggish recovery in the market, a spokesperson for the company's games unit said on Tuesday.

Warner Bros. Discovery linear networks continued to lose ground amid ongoing challenges, weighing on the fourth quarter along with one-time charges.

Warner Bros. Discovery (WBD) (WBD) said its streaming unit was profitable again, outlining a future that sees overall customers grow to at least 150 million by the end of next year.

You are reading an exclusive WrapPRO article for free. Want to level up your entertainment career? Go here for more information. Shares of Warner Bros. Discovery climbed over 8% on Thursday as the streaming division swung to a profit of $409 million in its fourth quarter of 2024 and added 6.

The Hollywood giant, led by CEO David Zaslav, disclosed a $9.1 billion networks unit impairment charge for 2024 and outlined a path to 150 million streaming subs by the end of 2026.