Blockbuster hit “Barbie” brought in a record $1.5 billion for Warner Bros. Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street’s forecasts. The company, however, reported a narrow profit when taking into account adjustments for certain items, including interest, taxes, depreciation and amortization. Discovery, the parent company of CNN, needed the revenue boost from “Barbie” to achieve a narrow 2% increase in sales. The company reported that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22% to just under $3 billion.

Source: CNN November 08, 2023 13:01 UTC