Warner Bros Discovery meets quarterly revenue estimates amid strike, sluggish ad market

Although Hollywood's film and television writers ratified a new, three-year contract in September, ending their 148-day work stoppage, members of the SAG-AFTRA actors union have been on strike since July, roiling the industry's 2024 film slate and depriving media companies of new content to sell. The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter, as it spent less on production as a result of the strikes. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation create an uncertain climate for marketers.