Warner Bros. Discovery reported its fourth-quarter earnings, revealing a mixed performance that has impacted its stock value. The company's earnings fell short of Wall Street forecasts, with a reported revenue of $10.28 billion against an estimated $10.46 billion, and a loss per share of 16 cents, more than double the estimated loss of 6.1 cents. Despite these challenges, Warner Bros. Discovery announced a full-year streaming profit of $103 million, marking a significant milestone as the first Hollywood conglomerate to achieve this. The company added 1.8 million subscribers in the quarter, narrowing its streaming loss by 75% to $55 million. CEO David Zaslav outlined an attack plan for 2024, including the rollout of Max in key international markets and a more robust creative pipeline across film and TV studios. However, the studios unit reported a 30% profit drop in the fourth quarter, attributed to tough year-over-year comparisons, the impact of dual Hollywood strikes, and higher marketing costs due to a larger release slate. The networks unit posted a 12% increase in ad revenue, or 14% when excluding foreign exchange impacts. Despite these efforts, the company's stock slid 5% after earnings fell short of estimates, and further dropped to a record low, closing down 10% after the earnings miss was announced.