Warner Bros.’ Revenue Misses Estimates Amid Plans for Sale

Warner Bros. Discovery Inc., the parent of HBO and CNN, reported third-quarter revenue that missed analysts’ expectations, providing a glimpse into the company’s businesses as it puts itself up for sale.

The New York-based media and entertainment group posted revenue of $9 billion, a 6% decrease from a year ago and below Wall Street’s estimate of $9.2 billion. Losses in the traditional TV business offset gains in the film studio operations, which were boosted by blockbusters like Superman. Warner Bros. reported a quarterly loss of 6 cents per share, compared with earnings of 5 cents per share a year ago.