---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-24-000013"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T16:54:08.718048+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# WBD Q4 revenue $10.28B (-7% ex-FX); net loss $400M, adjusted EBITDA $2.47B (-5% ex-FX)

## Summary
- Q4 revenue $10,284M, down 7% ex-FX YoY; Studios revenue down 18% ex-FX, Networks down 8% ex-FX, DTC up 3% ex-FX.
- Net loss $400M vs $2,101M loss in prior year; includes $1,699M amortization and $75M restructuring.
- Q4 adjusted EBITDA $2,471M, down 5% ex-FX; DTC adjusted EBITDA loss improved to $(55)M from $(217)M YoY.
- Repaid $1.2B debt in Q4; ended Q4 with $4.3B cash, $44.2B gross debt, 3.9x net leverage.
- Global DTC subscribers 97.7M (including BluTV); ARPU $7.94, up 7% ex-FX; full-year free cash flow $6,161M, debt repaid $5.4B in 2023.

## SEC filing metadata
- accession: 0001437107-24-000013
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710724000013/0001437107-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710724000013/disca-20240223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-24-000013
- JSON: https://secwatch.observer/filing/0001437107-24-000013.json
- Plain text: https://secwatch.observer/filing/0001437107-24-000013.txt

## Key facts
- Earnings Releases
  Warner Bros. Discovery, Inc. reported the quarter and year ended December 31, 2023 results: revenue $10,284 million, net income $(400) million.
  - Period: the quarter and year ended December 31, 2023
  - Revenue: $10,284 million
  - Net income: $(400) million
  - Result: reported results
  source text: or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- wbd4q23earningsreleasefi • Q4 total revenues were $10,284 million. Revenues decreased 7% ex-FX(1)(*) compared to the prior year quarter. • Net loss available to Warner Bros. Discovery, Inc. was $(400) million, including $1,699 million of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000143710724000013/0001437107-24-000013-index.htm

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