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Benzinga
Benzinga
Business
Henry Khederian

UNBELIEVABLE: Why warner bros discovery shares are falling following netflix s earnings report | History Defined

Netflix Nasdaq Warner Bros Discovery

Warner Bros. Discovery (NASDAQ:WBD) shares are trading lower in sympathy with a decline in Netflix Inc (NASDAQ:NFLX) shares after Netflix reported first-quarter earnings results. Also, a report suggesting the company suspended external marketing spending for CNN+ could also be impacting the stock. The company also operates two major streaming services, HBO Max and Discovery+.

Netflix reported quarterly earnings of $3.53 per share which beat the analyst consensus estimate of $2.90. Netflix also reported quarterly sales of $7.87 billion which missed the analyst consensus estimate of $7.93 billion by 1%. Global streaming paid net additions were down 200 thousand. 

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