Warner Bros. Discovery Inc

Latest Results (17.12.2024):

Revenue Overview

In the third quarter of 2024, Warner Bros. Discovery Inc. reported total revenues of $9.6 billion, marking a 3% decrease compared to the same quarter in the previous year when adjusted for foreign exchange impacts. This decline reflects the challenges faced in various segments, including studios and networks, despite growth in the Direct-to-Consumer segment.

Net Income and Adjusted EBITDA

Warner Bros. Discovery Inc. achieved a net income of $0.1 billion for Q3 2024. This figure includes significant pre-tax expenses related to acquisition-related amortization and restructuring. The company's adjusted EBITDA for the quarter was $2.4 billion, representing an 18% decrease from the prior year, highlighting the impact of ongoing operational challenges.

Direct-to-Consumer Growth

The Direct-to-Consumer segment showed strong performance, with global subscribers reaching 110.5 million by the end of Q3 2024, an increase of 7.2 million from the previous quarter. This growth was driven by the successful expansion of the Max platform in international markets and increased advertising revenue from domestic ad-lite subscribers.

Debt and Cash Flow

During the third quarter, Warner Bros. Discovery Inc. repaid or repurchased $0.9 billion of debt, ending the quarter with $3.5 billion in cash on hand and a gross debt of $40.7 billion. The company reported free cash flow of $0.6 billion, reflecting its efforts to manage liquidity and leverage amid challenging market conditions.

Outlook and Strategic Partnerships

Warner Bros. Discovery Inc. continues to focus on strategic partnerships and content distribution to enhance its market position. The recent multi-year renewal of the Charter carriage agreement, including the bundling of Max, underscores the company's commitment to expanding its content reach and adapting to industry transformations. The company remains optimistic about achieving its 2025 Direct-to-Consumer financial objectives.