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.
Warner Bros. Discovery hasn't sold investors that simply shoring up its balance sheet is going to amount to anything. Shares close down 10% today after earnings miss estimates. https://t.co/EH5QIox090
Warner Bros. Discovery Keeps Cutting Earnings Expectations, How Soon Until They Pivot? $wbd @wbd https://t.co/Vnip67sTsb
“Warner Bros. Discovery shares drop 12% as company misses estimates, warns of 2024 cash flow headwinds” Article: https://t.co/vsBZ5MJm8M
Warner Bros Discovery’s Stock Tanks To Record Low https://t.co/xY8bJAsIo9 https://t.co/j3ekyMSU7R
Warner Bros Discovery reported a bigger-than-expected quarterly loss on Friday, as the media conglomerate battled a weak advertising market and the fallout of the twin Hollywood strikes on content generation. https://t.co/WLjipg4rkH
Warner Bros Discovery misses Q4 revenue forecast but streaming swung into profit in 2023 https://t.co/Z1QKj0ryED
Warner Bros. Discovery stock plunges as movie flops ‘The Color Purple,’ ‘Aquaman’ sink earnings https://t.co/Zlfk2GWkfG https://t.co/gGN6qUMqvv
Warner Bros. Discovery boss David Zaslav addresses the Harry Potter reboot's release plans and J.K Rowling's involvement. 📆 https://t.co/AY7C96vKfp https://t.co/AY7C96vKfp
Warner Bros. Discovery reported fourth quarter revenue and profits that fell short of Wall Street forecasts due to weakening sales of advertising at its traditional TV channels and fewer new programs https://t.co/qHxGgLYBp3
Warner Bros. Discovery shares take a hit after earnings miss https://t.co/ZqclDb3Hvu
Warner Bros. Discovery’s Stock Tumbles After Q4 Earnings As Lack Of 2024 Financial Guidance "Challenges Confidence" https://t.co/HFJPP9Bop9
Warner Bros. Discovery Stock Drops as Wall Street Reacts to Earnings and Lack of Guidance https://t.co/1wN8VDzAof
Warner Discovery stock is down more than 60% from April 2022 when the deal with AT&T closed.
Warner Bros Discovery reports larger-than-expected loss due to Hollywood strikes impacting content production https://t.co/5sJ13QW36H https://t.co/qivIZxEZ8x
Warner Bros. Discovery Shares Dive 13% on Q4 Results https://t.co/Rxk9FxHprl
Warner Bros Discovery now down 12% after earnings miss and no FCF guidance for 2024. https://t.co/kOUoF7LH9m
Warner Bros. Discovery CEO David Zaslav acknowledged the film studio's sluggish 2023 in the company's earnings call. "The studio has really been underperforming, including the end of the year where we had some real struggle." https://t.co/8c4y0QIdzN
Here are the big points David Zaslav made on this morning's WBD earnings call: 1. “Bottomline, the studio has been underperforming — including the end of [2023].” https://t.co/9jGMMSPqjJ https://t.co/oVaWQqF3I2
Warner Bros. Discovery $WBD Earnings: - Diluted EPS of -$0.16 - Revenue of $10.28 billion - Adjusted EBITDA of $2.47 billion David Zaslav, President & CEO, said: "After executing against our strategic plan to reposition the company, we are now on solid footing with a clear… https://t.co/Wjyy8ND4mZ
*WARNER BROS DISCOVERY DROPS 10% AT THE OPEN TO HIT RECORD LOW
Warner Bros. Discovery Stock Plummets in Pre-Market Trading After Q4 Earnings Report https://t.co/EftGJEvUp6
Warner Bros Discovery $WBD CFO on future of their earnings trajectory: "we are not in the business of making longer term projections here" Investor reaction 👇👇👇 https://t.co/e2BngHNslg
David Zaslav and his CFO/head of streaming aren't doing a great job convincing investors to get excited about $WBD on this earnings call. The stock is now down 9% premarket. No FCF guidance and suggestions that Max profitability won't surge in 2024 with strikes ending.
Warner Bros. Discovery’s stock slides 5% after earnings fall short of estimates https://t.co/zJ6nbAfv2X
* WARNER BROS DISCOVERY SAYS ON TRACK TO ACHIEVE FORECAST OF $1 BLN IN EBITDA IN 2025 FOR MAX - CONF CALL @reuters $WBD
Warner Bros Discovery loss bigger than expected as Hollywood strikes dry up content pipeline https://t.co/LYB68HNEVC https://t.co/wbZylNIRSk
Warner Discovery CEO David Zaslav on company's movie biz: "We have created a home for every kind of story to be told."* *Except Batgirl and Wile E. Coyote
Warner Discovery earnings: Q4 total revenues were $10,284 million. Revenues decreased 7% compared to prior year quarter. • Net loss to Warner Bros. Discovery, Inc. was $(400) million. "We’re a far healthier company now and we’re building real momentum" - CEO David Zaslav.
Warner Bros. Discovery Adds 1.8 Million Subscribers, Narrows Streaming Loss 75% to $55 Million in Q4 https://t.co/tv38UTSS9w
Warner Bros. Discovery misses estimates for revenue and profit but boosts free cash flow https://t.co/HHFGh0PXHD
Warner Bros. Discovery Q4 Hit By Softer Advertising, Strike Impact But Losses Narrow, Free Cash Flow Jumps https://t.co/kV3f1RfoIR
Warner Bros. Discovery Narrows Q4 Loss Despite 14% Decline in Ad Revenue https://t.co/dNx6nxSYYF
Warner Bros. Discovery CEO David Zaslav: "We have an attack plan for 2024 that includes the roll-out of Max in key international markets" and "a more robust creative pipeline across our film and TV studios" https://t.co/PCMGe9sL4L
Warner Bros. Discovery studios unit reports 30 percent profit drop in fourth quarter amid tough year-over-year comparisons, the impact of the dual Hollywood strikes and a larger release slate, meaning higher marketing costs https://t.co/qS6tNdfNN6
Warner Bros. Discovery's networks unit posts ad revenue of 12 percent, or 14 percent when excluding foreign exchange impacts, for the fourth quarter https://t.co/gc3YnVD7FJ
$WBD | Warner Bros Discovery Q4 23 Earnings: - Rev. $10.28B (est $10.46B) - Loss/SHR 16C (est Loss/SHR 6.1C)
Warner Bros. Discovery Becomes First Hollywood Conglomerate to Turn Full-Year Streaming Profit, Hitting $103M https://t.co/hXqs6jr6Wa
Warner Bros. Discovery’s Subscriber Count Is What to Watch for Earnings https://t.co/snTPSeYFIp