Streamingproved a rare bright spot, posting $50 million in EBITDA after several quarters of losses.
The company had previously said direct-to-consumer streaming would break even this year and then hit the black by 2024.
Later this month, HBOMaxand Discovery+ are combining in a revamped service called Max.
Warner Bros. Discovery CEO David ZaslavKevin Mazur/Getty Images for Warner Bros. Discovery
Spring earnings season has been a bumpy ride for media companies.
They retreated 5% in pre-market trading as investors reacted to the earnings report.
