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Mar 31, 2023
Warner Bros Discovery Q1 2023 Earnings Report
Warner Bros. Discovery reported mixed results for Q1 2023, with revenue decreasing but DTC subscribers increasing.
Key Takeaways
Warner Bros. Discovery's Q1 2023 results revealed a net loss but also showed positive strides in DTC subscriber growth and adjusted EBITDA. The company is focusing on restructuring and deleveraging its balance sheet, with expectations of profitability in the U.S. DTC business ahead of schedule.
Total revenues were $10,700 million, a decrease of 5% ex-FX compared to the prior year quarter.
Net loss available to Warner Bros. Discovery, Inc. was $(1,069) million, including significant pre-tax amortization and restructuring expenses.
Adjusted EBITDA was $2,611 million, an increase of 12% ex-FX compared to the prior year quarter.
Global DTC subscribers increased by 1.6 million to reach 97.6 million.
Warner Bros Discovery
Warner Bros Discovery
Warner Bros Discovery Revenue by Segment
Revenue by Segment
Studios Revenue
CapyFin.com Forward Guidance
Warner Bros. Discovery anticipates U.S. DTC business profitability for 2023 and focuses on driving free cash flow and reducing debt.
Positive Outlook
- Meaningful turn in DTC segment EBITDA.
- Increase in net DTC subscribers.
- Expected profitability of the U.S. DTC business in 2023, ahead of previous guidance.
- Positioned to drive free cash flow.
- Focused on deleveraging the balance sheet.