secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001437107-23-000169
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WBD Q3 revenue $9.98B, Adj. EBITDA +22% ex-FX to $2.97B; DTC profit $111M
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- Total revenues $9.98B (+1% ex-FX YoY); net loss narrowed to $417M from $2.31B.
- Adjusted EBITDA $2.97B (+22% ex-FX); free cash flow $2.06B vs -$192M prior year.
- DTC segment posted $111M Adj. EBITDA vs $634M loss; subscribers 95.1M (down 0.7M QoQ), ARPU $7.82 (+6% ex-FX).
- Networks revenue $4.87B (-7% ex-FX) on ad decline; Studios revenue $3.23B (+3% ex-FX) driven by Barbie.
- Repaid $2.4B debt in Q3; gross debt $45.3B; net leverage 4.2x; year-to-date free cash flow on track to exceed $5B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000169/0001437107-23-000169-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000169/disca-20231108.htm
  HTML page:      https://secwatch.observer/filing/0001437107-23-000169

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