Warner Bros. Discovery Registers 15% Revenue Growth In Q1 Backed By Advertising, Distribution Revenue - Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery, Inc 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.