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$WBD (+1,28%) | Warner Bros. Discovery Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $0.05 (Est. -$0.11) ๐ŸŸข

๐Ÿ”น Revenue: $9.62B (Est. $9.8B) ๐Ÿ”ด; DOWN -3% YoY

๐Ÿ”น Adj EBITDA: $2.41B; DOWN -18% YoY (ex-FX)


Studios:

๐Ÿ”น Revenue: $2.68B; DOWN -17% YoY

๐Ÿ”น Adjusted EBITDA: $308M


Networks:

๐Ÿ”น Revenue: $5.01B; UP +3% YoY

๐Ÿ”น Adjusted EBITDA: $2.115B


Direct-to-Consumer (DTC):

๐Ÿ”น Subscribers: 110.5M (Est. 109.2M) ๐ŸŸข, UP 7.2M QoQ

๐Ÿ”น Revenue: $2.63B; UP +9% YoY

๐Ÿ”น Adjusted EBITDA: $289M

๐Ÿ”น Global DTC ARPU: $7.84; UP +1% YoY


Key Operational Highlights:

๐Ÿ”ธ Strong DTC growth with 7.2M additional subscribers, reaching 110.5M total.

๐Ÿ”ธ Successful content performance from The Penguin on Max platform.

๐Ÿ”ธ Renewed Charter carriage agreement and generated 215M Olympic Games views.


Financial Position:

๐Ÿ”น Cash on hand: $3.5B

๐Ÿ”น Gross debt: $40.7B

๐Ÿ”น Net leverage ratio: 4.2x

๐Ÿ”น Debt reduction of $0.9B in Q3


CEO David Zaslav's Commentary:

๐Ÿ”ธ "Despite extraordinary disruptions, our Q3 results underscore the success of our strategic repositioning efforts, positioning Warner Bros. Discovery for future growth and resilience."

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