secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0001437107-23-000074
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000074/0001437107-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000074/disca-20230505.htm
  HTML page:      https://secwatch.observer/filing/0001437107-23-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer