Warner Bros. Discovery Posts $1.58B Q2 Profit

Warner Bros. Discovery reported a strong second quarter, posting a net income of $1.58 billion, a significant turnaround from a nearly $10 billion loss a year earlier, with revenues rising to $9.81 billion and surpassing Wall Street estimates. Studio revenue surged by 55-60%, driven by successes such as 'A Minecraft Movie' and 'Sinners,' with theatrical revenue specifically increasing by 38%. The streaming division added 3.4 million global subscribers, supported by HBO Max's international expansion, and achieved an 8% revenue increase. The linear TV segment continued to decline, with global linear networks revenue down 8-9%. The company is proceeding with a planned split into two entities: one focused on studios and streaming, the other on cable networks. Warner Bros. Discovery aims to reach 150 million streaming subscribers by the end of next year, citing ongoing strength in its studios segment.