Warner Bros. Discovery Stock Falls On Global DTC Subscribers Drop in Q2, Anticipates Impact of WGA Strike on Cash Flow
Portfolio Pulse from Anusuya Lahiri
Warner Bros. Discovery, Inc (NASDAQ:WBD) reported a Q2 FY23 revenue decline of 4% to $10.36 billion, missing the consensus of $10.47 billion. The company's EPS loss of $(0.51) also missed the consensus loss of $(0.39). Studios revenues were down by 24%, while Networks revenues were down by 5%. DTC revenues were up 14%, but total DTC subscribers decreased by 1.8 million. The company anticipates a $100 million impact on operating cash flow due to the WGA strike.
August 04, 2023 | 1:27 pm
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Warner Bros. Discovery reported a Q2 FY23 revenue decline and a drop in DTC subscribers. The company also anticipates a negative impact on its operating cash flow due to the WGA strike.
The company's reported revenue decline and drop in DTC subscribers are negative indicators for its financial performance. The anticipated impact of the WGA strike on its operating cash flow could further negatively affect the company's financial stability, potentially leading to a decrease in its stock price.
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IMPORTANCE 80
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