---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-23-000013"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T02:22:03.411491+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Warner Bros. Discovery reports Q4 net loss of $2.1B; DTC subscribers up 1.1M

## Summary
- Q4 total revenues $11.0B, down 9% ex-FX vs prior year combined; net loss $(2.1)B.
- Full-year 2022 net loss $(7.4)B, includes $6.2B amortization and $3.8B restructuring.
- DTC subscribers reached 96.1M, up 1.1M QoQ; DTC Adjusted EBITDA loss improved to $(217)M.
- Gross debt $49.5B, net leverage 5.0x; voluntarily repaid $7.0B debt since merger.
- Studios revenue down 23% ex-FX; Networks down 6% ex-FX; DTC revenue up 6% ex-FX.

## SEC filing metadata
- accession: 0001437107-23-000013
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710723000013/0001437107-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710723000013/disca-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-23-000013
- JSON: https://secwatch.observer/filing/0001437107-23-000013.json
- Plain text: https://secwatch.observer/filing/0001437107-23-000013.txt

## Key facts
- Earnings Releases
  Warner Bros. Discovery, Inc. reported the quarter and year ended December 31, 2022 results: revenue $11,008 million, net income $(2,101) million.
  - Period: the quarter and year ended December 31, 2022
  - Revenue: $11,008 million
  - Net income: $(2,101) million
  - Result: reported results
  source text: NM - Not meaningful (*) A non-GAAP financial measure; see the section starting on page 13 titled Definitions & Sources for additional details • Q4 total revenues were $11,008 million. Revenues decreased 9% ex-FX(1)(*) compared to the prior year quarter, on a combined basis(2). • Net loss available to Warner Bros. Discovery, Inc. was $(2,101) million, and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000143710723000013/0001437107-23-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.