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Warner Bros. Discovery reported a strong quarterly loss even as its direct-to-consumer segment reported a profit for the first time ever.
Revenue for the first quarter was $10.7 billion, roughly in line with analyst estimates. The company reported a net loss of $1.1 billion and adjusted EBITDA of $2.6 billion. The company reported revenue of $10.7 billion versus $10.78 billion expected and loss per share of 44 cents versus earnings of 1 cent expected.