Warner Bros. Discovery Inc (NAS:WBD)

$ 8.36 0.7 (9.14%) Market Cap: 20.50 Bil Enterprise Value: 56.13 Bil PE Ratio: 0 PB Ratio: 0.60 GF Score: 74/100

Q2 2024 Warner Bros Discovery Inc Earnings Call Transcript

Aug 07, 2024 / 08:30PM GMT

Release Date Price: $7.71 (+1.85%)

Transcript 10-Q8-K

Key Points

Positve

Warner Bros. Discovery Inc (WBD) reported strong growth in its direct-to-consumer (DTC) segment, adding 3.6 million subscribers in Q2 2024.
The launch of Max in Europe, timed with the Olympics, was highly successful, engaging over 141 million people across various platforms.
The company has made significant progress in paying down its debt, successfully executing a tender for $3.4 billion of debt.
Warner Bros. Discovery Inc (WBD) has a robust content lineup for the next two years, including highly anticipated series like 'House of the Dragon' and 'The Penguin'.
The company is seeing strong momentum in its advertising revenues, with streaming ad revenues doubling year-over-year.

Negative

Warner Bros. Discovery Inc (WBD) recorded a $9 billion non-cash impairment charge against its Networks segment due to market conditions and strategic planning adjustments.
The company continues to face tough market conditions in its legacy business, particularly in the US ad market.
Free cash flow decreased by $750 million year-over-year, largely due to increased net content investment and lower operating profits.
The company is still in the midst of a multiyear turnaround for its studio business, with recent releases underperforming.
There is uncertainty related to future affiliate and sports rights renewals, which could impact the company's financial outlook.

Operator

Ladies and gentlemen, welcome to the Warner Bros. Discovery's second-quarter 2024 earnings conference call. (Operator Instructions) Additionally, please be advised that today's conference call is being recorded. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President, Global Investor Strategy. Sir, you may now begin.

Andrew Slabin

Warner Bros Discovery Inc - Executive Vice President, Global Investor Strategy

Good afternoon, and thank you for joining us for Warner Bros. Discovery's Q2 earnings call. Joining me today is David Zaslav, President and Chief Executive Officer; Gunnar Wiedenfels, Chief Financial Officer; and JB Perrette, CEO and President, Global Streaming and Games. Today's presentation will include forward-looking statements that we made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements may include comments regarding the company's future business plans, prospects and financial performance and involve risks and uncertainties that could cause

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