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Jun 30, 2020
Warner Bros Discovery Q2 2020 Earnings Report
Discovery, Inc. reported a decrease in total revenues and net income compared to the prior year quarter, but generated significant free cash flows.
Key Takeaways
Discovery, Inc. reported a 12% decrease in total revenues to $2,541 million and a 71% decrease in net income to $271 million compared to the prior year quarter. The company generated $879 million in free cash flow and announced its intention to resume share repurchases. The company's top priority is the health and safety of its employees as global economies and offices begin to reopen.
Total revenues decreased 12% compared to the prior year quarter, or decreased 11% ex-FX.
Net income available to Discovery was $271 million and diluted EPS was $0.40 per share.
Free cash flow was $879 million.
The company will resume share repurchases.
Forward Guidance
Discovery may provide forward-looking commentary in connection with this earnings announcement on its quarterly earnings conference call.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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