Warner Bros. Discovery Faces Softened Ad Market, Analyst Lowers Q2 Estimates
Portfolio Pulse from Anusuya Lahiri
Needham analyst Laura Martin has lowered her Q2 2023 estimates for Warner Bros. Discovery, Inc (NASDAQ:WBD) due to a softer ad market, weaker box office performance, and higher marketing expenses. However, she maintained full-year FY23 revenue and EBITDA estimates by raising Q4 2023 numbers to offset Q2 weakness. Despite the lowered estimates, WBD shares traded higher by 2.82% at $13.32.
July 11, 2023 | 6:49 pm
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Warner Bros. Discovery's Q2 2023 estimates have been lowered by Needham analyst Laura Martin due to a softer ad market and higher expenses. However, FY23 estimates are maintained.
The lowered Q2 2023 estimates are due to a softer ad market, weaker box office performance, and higher marketing expenses. However, the analyst has maintained the full-year FY23 revenue and EBITDA estimates by raising Q4 2023 numbers to offset the Q2 weakness. This indicates that the company's overall performance for the year might not be significantly impacted. Despite the lowered estimates, the company's shares traded higher, indicating a positive market sentiment.
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IMPORTANCE 80
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