Warner Bros. Discovery (NASDAQ:WBD) shares are down about 5% on Friday after the media company reported softer-than-expected Q1 results across nearly all business segments.
WBD posted a loss per share of $0.44 on revenue of $10.70 billion, worse than the analyst consensus for a loss per share of $0.10.
The company reported total subscribers of 97.6 million, missing the 96.8M that analysts expected.
Goldman Sachs analysts said the results were “broadly in-line” but “mixed across segments.”
“In light of the stock’s YTD outperformance, we may see an initial negative reaction in the stock owing to mixed segment level results.”
Wells Fargo analysts is more bullish as hre reiterated an Overweight rating on the stock.
“Ad, Studio and DTC performance are key to achieving the goals, so we see WBD as reflecting investor confidence in the guide.”