WBD Q3 net income $135M; revenue $9.6B (-3% ex-FX); DTC subs add 7.2M

Warner Bros. Discovery, Inc.

2024-Q3 EPS reported -$4.42 revenue$29,294,000,000

Net income available to WBD was $135M vs loss of $417M in Q3 2023; includes $1.6B pre-tax amortization and restructuring.
Total revenues $9,623M, down 3% ex-FX YoY; Studios -17%, Networks +3%, DTC +9% ex-FX.
Adjusted EBITDA $2,413M, down 18% ex-FX; free cash flow $632M, down 69% due to higher content investment.
DTC subscribers rose 7.2M sequentially to 110.5M, largest quarterly gain; global ARPU $7.84 (+1% ex-FX).
Repaid/repurchased $0.9B debt in Q3; gross debt $40.7B, net leverage 4.2x, cash on hand $3.5B.

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