Warner Bros. Discovery earnings decreased by 70% from Q1 2023 compared to Q1 2024.
Warner Bros. Discovery Inc. announced on an earnings call that the game Suicide Squad: Kill the Justice League lost the company $200 million.
On the Q1 2024 earnings call , investors heard from President and CEO David Zaslav and CFO Gunnar Wiedenfels.
Zaslav broke the bad news first and stated that “unfortunately,” the studio’s Q1 financials were overshadowed by the tough sales in the games department “following the great performance of Hogwarts Legacy last year and the disappointing release of Suicide Squad in Q1 in our gaming group.””On the advertising front,” Zaslav continued, “total company ad sales were down 7% in the quarter.”Wiedenfels then spoke to the studio losing hundreds of millions of dollars year-over-year. He, too, explained that despite a great performance of the game Hogwarts Legacy, the studio still hemorrhaged from the Suicide Squad […]
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