Warner Bros Discovery's Streaming Business Could Be Profitable Soon, but Is the Stock a Buy?
Profits have become the driving force for many streaming services, and Warner Bros. Discovery (NASDAQ: WBD) may be the closest to reaching that goal. Management said its direct-to-consumer segment, which includes HBO Max and Discovery+, will be about breakeven on an earnings before interest, taxes, depreciation, and amortization (EBITDA) basis for the first quarter of the year. The milestone comes after CEO David Zaslav mercilessly cut content expenses, including several high-profile cancellations.