Warner Bros. Discovery stock sinks 18% as ad revenue falls, Zaslav warns of ‘generational disruption’

Warner Bros. Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a wider-than-expected loss and lackluster streaming subscriber numbers.

Here’s what the company reported for the quarter ended Sept. 30, versus analysts’ estimates, according to LSEG, formerly known as Refinitiv:

Loss per share: 17 cents vs. 6 cents expected
Revenue: $9.98 billion vs. $9.98 billion expected

Warner Bros. Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion, or 95 cents per share, loss the company reported in the year-ago quarter. Revenue rose 2% to $9.98 billion.

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