Warner Bros. Discovery logged lower revenue in its latest quarter, driven by declines across each of its segments, as it remains in the middle of a high-stakes bidding war between Netflix and Paramount Skydance.
The media and entertainment company on Thursday posted a fourth-quarter loss of $252 million, or 10 cents a share, compared with a loss of $494 million, or 20 cents a share, a year earlier. Analysts polled by FactSet expected a loss of three cents a share.
Revenue fell 6%, to $9.46 billion, compared with analyst estimates of $9.35 billion.
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