These Analysts Slash Their Forecasts On Warner Bros. Discovery After Weak Q4 Results
Portfolio Pulse from Avi Kapoor
Warner Bros. Discovery, Inc (NASDAQ:WBD) reported a larger than expected loss for Q4 fiscal 2023, with revenues declining 7% year-on-year to $10.28 billion, missing consensus estimates. The company cited strikes and the absence of large licensing deals as reasons for the downturn. Following the report, analysts from JP Morgan, Morgan Stanley, Barrington Research, and Rosenblatt adjusted their price targets for WBD, with most reducing their targets. WBD shares fell 0.6% to $8.56 following the announcement.
February 26, 2024 | 6:10 pm
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NEGATIVE IMPACT
Warner Bros. Discovery reported a significant Q4 loss, missing revenue estimates and experiencing a share price drop. Analysts have adjusted their price targets downward.
The reported earnings miss and subsequent negative analyst revisions directly impact investor sentiment and could lead to short-term price pressure on WBD shares. The share price already showed a negative reaction, dropping 0.6%, and the downward revision in price targets by several analysts could further dampen investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100