Warner Bros. Discovery shares drop 12% as company misses estimates, warns of 2024 cash flow headwinds
Publishing timestamp: 2024-02-23 12:53:19
Summary
Warner Bros. Discovery missed analyst estimates for revenue and earnings, but streaming service Max ended 2023 profitable. Company expects Max to be profitable again in 2024, but faces free cash flow headwinds due to content spend increases. Shares fell 12% after report. Warner Bros. Discovery declined to offer free cash flow guidance for 2024.
Sentiment: MIXED
Tickers: PARA, CMCSA, WBD, DIS,
Keywords: david zaslav, paramount global, breaking news: business, business news, warner bros discovery inc, media, earnings, sports, walt disney co, technology, business, comcast corp,
Source: https://www.cnbc.com/2024/02/23/warner-bros-discovery-wbd-earnings-q4-2023.html