Warner Bros. Discovery Q1 net loss $1.07B; DTC segment turns profitable at $50M EBITDA

Warner Bros. Discovery, Inc.

2023-Q1 EPS reported -$0.44 revenue$10,700,000,000

Revenue $10.7B, down 5% ex-FX; net loss $1.07B includes $1.81B acquisition amortization.
DTC segment EBITDA $50M vs loss $654M pro forma year ago; 1.6M net adds to 97.6M subs.
U.S. DTC now expected profitable in FY2023, one year ahead of prior guidance.
Free cash flow negative $930M due to $836M semi-annual interest payments on merger debt.
Studios EBITDA $607M (down 23% ex-FX) despite Hogwarts Legacy >$1B retail sales.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Warner Bros. Discovery, Inc. reported the quarter ended March 31, 2023 results: revenue $10,700 million, net income $(1,069) million.

Period: the quarter ended March 31, 2023
Revenue: $10,700 million
Net income: $(1,069) million
Result: reported results

Exact text from the filing

• Q1 total revenues were $10,700 million. Revenues decreased 5% ex-FX(1)(*), or decreased 3% ex-FX excluding the impact of the 2022 Winter Olympic Games(2)(*), compared to the prior year quarter, on a combined basis(3). • Net loss available to Warner Bros. Discovery, Inc. was $(1,069) million

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Source: SEC EDGAR

accession 0001437107-23-000074

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