Warner Bros. Discovery’s Good News Couldn’t Obscure the Warning Signs in Q4 Results
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variety.comCynthia Littleton Business Editor David Zaslav came to market Friday morning with a fourth-quarter earnings report that delivered enviable free cash flow and put another sizable dent in Warner Bros.
Discovery’s heavy debt load. But it wasn’t enough to stop a 10% slide for the company’s already battered share price that took place minutes after the results were unveiled.
Investors were clearly surprised by the depth of the year-over-year declines in revenue and earnings at WB Discovery’s studio and linear networks divisions.
These are the company’s profitable pillars, the earnings engines keeping the light bills paid while streamer Max and HBO chomp through investment capital as both entities are reinvented for a new era of television.
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