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Warner Bros. Discovery, Inc. reports developments across its global media and entertainment business, including television, film, streaming and gaming. Recurring updates include quarterly earnings, conference-call materials, shareholder letters and corporate announcements tied to its branded content portfolio, including HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, Warner Bros. Motion Picture Group, Warner Bros. Television Group and Warner Bros. Games.
Company news also covers governance matters, shareholder voting items, material agreements and capital-structure disclosures related to WBD's public securities and corporate actions.
Warner Bros. Discovery (Nasdaq: WBD) announced that Chief U.S. Advertising Sales Officer Jon Steinlauf will present at the Credit Suisse 24th Annual Communications Conference on June 15, 2022, at 12:25 p.m. ET. A live webcast will be available on the Investor Relations section of their website, with an on-demand replay accessible shortly after the presentation's conclusion. Warner Bros. Discovery is a global media company recognized for its extensive portfolio, including brands like CNN, HBO, and Discovery Channel, operating in over 220 countries.
Roku and Warner Bros. Discovery announced the launch of discovery+ as a Premium Subscription on The Roku Channel in the U.S.. Users can choose between an ad-free subscription for $6.99 or an ad-supported version for $4.99. discovery+ offers a vast library of over 70,000 episodes from popular networks like HGTV, Food Network, and Animal Planet, along with exclusive content. The Roku Channel now features over 80,000 movies and programs, simplifying user access and subscription management.
Warner Bros. Discovery reported Q1 2022 revenues of $3,159 million, a 13% increase year-over-year. U.S. advertising revenues rose 5%, while distribution revenues grew by 11%. The company achieved a net income of $456 million and total Adjusted OIBDA of $1,027 million, reflecting a 23% increase. The total number of direct-to-consumer subscribers reached 24 million, with a 55% growth in Next Generation Revenues. Cash provided by operations increased to $323 million, and free cash flow rose to $238 million. The company ended the quarter with $4.2 billion in cash and equivalents.
Warner Bros. Discovery (Nasdaq: WBD) will release its first-quarter 2022 results on April 26, 2022, at 7:00 a.m. ET. The report covers the period from January 1 to March 31, 2022, excluding WarnerMedia's performance, which was acquired on April 8, 2022. A conference call will follow at 8:00 a.m. ET to discuss the findings, accessible via a live audio webcast on the company's website. Replay options will be available until May 4, 2022.