secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001437107-24-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000013/0001437107-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000013/disca-20240223.htm
  HTML page:      https://secwatch.observer/filing/0001437107-24-000013

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