Warner Bros. Discovery Registers 15% Revenue Growth In Q1 Backed By Advertising, Distribution Revenue

• Warner Bros. Discovery, Inc (NASDAQ:WBD) reported first-quarter  FY22 revenue growth of 15% ex-FX year-on-year to $3.16 billion.
• Advertising revenue was up 5% Y/Y to $1.48 billion, and distribution revenue grew 9% Y/Y to $1.42 billion.
• The U.S. advertising revenues increased by 5% Y/Y to $1.03 billion, and distribution revenues rose 11% Y/Y to $886 million.
• International advertising revenues climbed 11% ex-FX Y/Y to $457 million, and distribution revenues jumped 8% ex-FX Y/Y to $536 million.
• WBD ended Q1 with 24 million DTC Subscribers, up 2 million from Q4.
• WBD generated $450 million of Next Generation revenues in Q1, up 55% Y/Y.
• WBD generated $323 million in operating cash flow and held $4.2 billion in cash and equivalents.
• CEO David Zaslav said, "With Warner Bros. Discovery, we are creating a pure-play media company with diversified revenues and the most compelling IP ownership, franchises, and brand portfolio in our industry."
• Price Action: WBD shares traded lower by 3.86% at $20.67 in the premarket on the last check Tuesday.