Warner Bros. Discovery's Q1 Loss Narrows with Streaming Profitability

Warner Bros Discovery reported a wider-than-expected loss in Q1 due to tough comparisons with the year-ago period, but noted a "meaningful turn" toward streaming profitability, with streaming posting $50 million in EBITDA after several quarters of losses. The company now expects the streaming operation to become profitable in the US on a full-year basis in 2023, a year earlier than expected. The company is carrying significant debt, but promised investors $4 billion in cost savings from the merger of WarnerMedia and Discovery.