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-Warner Bros Discovery missed Wall Street estimates for first-quarter revenue on Thursday, weighed down by a weak advertising market and strike-related delays at its studio segment.Subdued advertising trends in the U.S. and certain international markets amid concerns over higher-for-longer interest rate environment have posed challenges for Warner Bros Discovery at its Networks segment.
Studio revenue was impacted by underperformance of the game"Suicide Squad: Kill the Justice League" released this quarter, compared to"Hogwarts Legacy" released a year before, which became the top game of the year. The company reported revenue of $9.96 billion for the three months ended March, compared with analysts' average estimate of$10.23 billion, according to LSEG data.It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home.
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