Warner Bros Discovery's shares fell on Friday as Wall Street sees more pain for the media giant that posted more than $2 billion in fourth-quarter losses and cut annual profit forecast as ad market weakness persists.
WBD cut its forecast for 2023 adjusted core earnings, or EBITDA, and now expects it to grow in low- to mid-twenties percentage. This implies a range of $11 billion to $11.5 billion, below its previous target of $12 billion.
But the market is focusing on profitability rather than the future industry growth trend, given the current economic conditions, CrispIdea analyst Subhendu Behera said.Wolfe Research analyst Peter Supino said the company's net debt was still very high and raised concerns about its high-pay TV exposure, at a time people are moving to streaming.The company reported a
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warner Bros. Discovery Tops 96 Million Streaming Subscribers Across HBO, HBO Max and Discovery+HBO, HBO Max and Discovery+ added 1.1 million subscribers in Q4 to end 2022 with a total of 96 million worldwide. That’s up from the 95 million combined global streaming customers Warner Bros…
Read more »
WSJ News Exclusive | Warner Bros. Discovery Looks to Get Out of Regional Sports TV BusinessWarner Bros. Discovery is looking to get out of the regional sports TV business. It told the NBA, MLB and NHL that it wants to cease operating three networks.
Read more »
Warner Bros Discovery earnings: CEO David Zaslav faces new challengesWarner Bros Discovery CEO David Zaslav faces complex challenges as a combined HBO Max-Discovery streamer preps to launch this spring and staffers fear more layoffs and cuts
Read more »
Warner Bros Discovery revenue misses as media giant posts big lossWarner Bros. Discovery reported its fourth quarter results after the bell.
Read more »
Warner Bros. Discovery stock falls as fourth-quarter results miss expectationsShares Warner Bros. Discovery Inc. fell in after-hours trading after the media giant reported fourth-quarter results that came in below expectations.
Read more »
Warner Bros. Discovery Sees $2.1 Billion Loss in Q4 After Big Writedown; Ad Sales TumbleWarner Bros. Discovery continued to work on making all its various pieces, merged together last year, into a cohesive whole. The New York owner of the TNT and TBS cable networks, the HBO Max stream…
Read more »