$WBD (+1,74%) | Warner Bros. Discovery Q3'24 Earnings Highlights:
๐น EPS: $0.05 (Est. -$0.11) ๐ข
๐น Revenue: $9.62B (Est. $9.8B) ๐ด; DOWN -3% YoY
๐น Adj EBITDA: $2.41B; DOWN -18% YoY (ex-FX)
Studios:
๐น Revenue: $2.68B; DOWN -17% YoY
๐น Adjusted EBITDA: $308M
Networks:
๐น Revenue: $5.01B; UP +3% YoY
๐น Adjusted EBITDA: $2.115B
Direct-to-Consumer (DTC):
๐น Subscribers: 110.5M (Est. 109.2M) ๐ข, UP 7.2M QoQ
๐น Revenue: $2.63B; UP +9% YoY
๐น Adjusted EBITDA: $289M
๐น Global DTC ARPU: $7.84; UP +1% YoY
Key Operational Highlights:
๐ธ Strong DTC growth with 7.2M additional subscribers, reaching 110.5M total.
๐ธ Successful content performance from The Penguin on Max platform.
๐ธ Renewed Charter carriage agreement and generated 215M Olympic Games views.
Financial Position:
๐น Cash on hand: $3.5B
๐น Gross debt: $40.7B
๐น Net leverage ratio: 4.2x
๐น Debt reduction of $0.9B in Q3
CEO David Zaslav's Commentary:
๐ธ "Despite extraordinary disruptions, our Q3 results underscore the success of our strategic repositioning efforts, positioning Warner Bros. Discovery for future growth and resilience."