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Dec 31, 2020
Warner Bros Discovery Q4 2020 Earnings Report
Reported flat total revenues with growth in U.S. distribution and international viewing share, while adjusted OIBDA and free cash flow decreased due to COVID-19 impacts and increased content investments.
Key Takeaways
Discovery, Inc. reported flat total revenues for Q4 2020, with growth in U.S. distribution revenues and international viewing share. The company surpassed 11 million total paying direct-to-consumer subscribers globally. Adjusted OIBDA and free cash flow decreased due to the negative impact of COVID-19 and increased investments in content and next-generation initiatives.
Total revenues were flat compared to the prior year quarter.
U.S. advertising revenues were flat, while distribution revenues increased by 5%.
International advertising revenues decreased by 1%, and distribution revenues decreased by 4% (both ex-FX).
The company surpassed 11 million total paying direct-to-consumer subscribers globally.
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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