Warner Bros. Discovery Stock Rises as Upbeat Outlook Outweighs Soft Results | Global News Avenue

Warner Bros. Discover (WBD) reported weaker fourth-quarter results than expected, but shares rose in previous market transactions on Thursday.

The entertainment giant reported a net loss of $0.20 per share and revenue of $10.03 billion. Analysts who can see that Alpha votes are expected to earn $0.02 per share and revenue of $10.22 billion.

In its annual letter to shareholders, the company said it plans to continue to expand its largest streaming service to more countries and sees “a clear path to reach at least 150 million global subscribers by the end of 2026, with corresponding strong (direct-to-consumer) revenue and adjusted EBITDA growth.” The company had 116 million DTC subscribers at the end of the fourth quarter.

The report is amid a shift in Warner Bros.’s discovery strategy. In DecemberIt says it plans to split its operations into two parts, one for television networks such as CNN, TBS and TNT, and the other for its film studios and Max. The company said in a shareholder letter that it hopes to complete the restructuring in the second quarter.

Warner Bros. found that the stock entered a day about 20% over the past 12 months, up 5% about an hour before the opening clock.