Warner Bros. Sales Fall Short on Gaming Miss, Poor Ad Sales

Warner Bros. Discovery Inc. reported sales and profit that fell short of analysts’ expectations as the entertainment giant wrestled with lower TV ad sales and poor performance of video games.

The parent of CNN, TNT and other cable networks generated sales of $9.96 billion in the first quarter, compared with the $10.3 billion average of projections on Wall Street and down 7% from a year earlier. Adjusted earnings of $2.1 billion before interest, taxes, depreciation and amortization also fell below the market’s projections for $2.18 billion and were down 20% from last year.