Streaming Buoys Q1 Profit for Warner Bros Discovery, Despite Cable Declines

Warner Bros. Discovery said profit rose in the first quarter despite declines in traditional TV audiences, as revenue from advertising and distribution increased thanks in part to the company’s streaming initiatives. Warner Bros. Discovery is essentially a new company, having completed its acquisition of the former WarnerMedia earlier this month. But the results released Tuesday do not include the WarnerMedia operations, which were disclosed earlier by the unit’s previous owner, AT&T. The company also declined to offer details on the number of streaming subscriptions for its stand-alone Discovery+ streaming venue. First-quarter net income rose to $456 million, compared with $140… Read Full Article