WBD ad revenue

WBD’s overall revenue fell 5% year-over-year to $9.7 billion, continuing a recent decline and missing investor expectations, according to its earnings report on Wednesday. WBD shares dropped 8% during after-hours trading.

Warner Bros. Discovery lost 1.8 million global streaming subscribers this quarter, but streaming ad revenue is up 25% YOY, thanks to the merged company’s new streaming service, Max.