Warner Bros. Discovery reported a net loss of $2.9 billion for the first quarter, citing acquisition-related amortization and restructuring expenses.
The company's revenue was down 1% year over year to $8.89 billion, while adjusted earnings before interest taxes, depreciation and amortization were up 5% to $2.2 billion.
Streaming continued to be a highlight for the company, with total streaming revenue up 9% to about $2.89 billion due to the expansion of HBO Max in international markets.
The company's portfolio of pay TV networks, which includes CNN, TBS and the Discovery Channel, reported $4.38 billion in revenue, down 8% from the prior year.