secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001437107-24-000107
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Warner Bros. Discovery Q1 revenues down 7% to $9.96B; net loss $966M; launches $1.75B debt tender offer
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- Total revenues $9,958M, down 7% ex-FX; net loss $966M includes $1,879M amortization/restructuring.
- Adjusted EBITDA $2,102M, down 20% ex-FX driven by Hogwarts Legacy comparison and Suicide Squad weak results.
- Free cash flow $390M, up $1.3B vs prior year; reduced debt by $1.1B; gross debt $43.2B; net leverage 4.1x.
- Global DTC subscribers 99.6M, up 2M; DTC ARPU $7.83, up 4% ex-FX; Max launched in Latin America.
- Launched cash tender offer to repurchase up to $1.75B of 13 series of notes; early tender premium $30/$1,000; expires June 7.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000107/0001437107-24-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000107/disca-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001437107-24-000107

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