Warner Bros. Discovery's Streaming Profit Soars, But Stock Sinks Amidst Ad Revenue Decline

Warner Bros. Discovery reported a $111 million profit in its streaming segment, while its studio segment was powered by the success of the movie "Barbie." The company's overall losses decreased, but its stock price fell due to the impact of Hollywood strikes and a sluggish U.S. ad market. Warner Bros. Discovery's global streaming subscribers slightly declined, but its streaming segment revenues increased. The networks segment saw a decline in revenues and advertising revenue due to audience declines and a soft ad market. The company aims to reduce churn and increase audience engagement for its streaming service, Max. Warner Bros. Discovery is positioning itself for future growth opportunities and aims to become a cash flow machine.