May 9(Reuters) - Warner Bros Discovery missed Wall Street estimates for first-quarter revenue on Thursday, weighed down by a weak advertising market and strike-related delays at its studio segment.

The company reported revenue of $9.96 billion for the three months ended March, compared with analysts' average estimate of$10.23 billion, according to LSEG data.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Sriraj Kalluvila)