Warner Bros. Discovery posts wider Q1 loss driven by $2.8B Netflix termination fee

Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) reported a wider-than-expected first quarter loss as a $2.8 billion termination fee tied to Netflix weighed heavily on results, while revenue came in slightly below analyst expectations. The media and entertainment company posted a net loss of $1.17 per share for the quarter, significantly wider than analysts' expectations for a loss of $0.11 per share.