WBD - Warner Bros. Discovery Stock Tumbles On Q4 Earnings - Here's Why | Benzinga
Warner Bros. Discovery, Inc (NASDAQ:WBD) reported a fourth-quarter fiscal 2023 revenue decline of 7% ex-FX year-on-year to $10.28 billion, marginally missing the consensus of $10.37 billion. EPS loss of $(0.16) missed the consensus loss of $(0.06).
Studios revenues were $3.17 billion, down 18% ex-FX Y/Y on a pro forma combined basis. Content revenue decreased 20% due to the impact of the WGA and SAG-AFTRA strikes and specific large licensing deals in the prior year.
Networks revenues were $5.04 billion, down by 8% ex-FX, on a pro forma combined basis.
Distribution revenue ...