NASDAQ$WBD
Warner Bros Discovery Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Warner Bros. Discovery reported mixed results for Q1 2023, with revenue decreasing but DTC subscribers increasing.
Warner Bros. Discovery's Q1 2023 results revealed a net loss but also showed positive strides in DTC subscriber growth and adjusted EBITDA. The company is focusing on restructuring and deleveraging its balance sheet, with expectations of profitability in the U.S. DTC business ahead of schedule.
- Total revenues were $10,700 million, a decrease of 5% ex-FX compared to the prior year quarter.
- Net loss available to Warner Bros. Discovery, Inc. was $(1,069) million, including significant pre-tax amortization and restructuring expenses.
- Adjusted EBITDA was $2,611 million, an increase of 12% ex-FX compared to the prior year quarter.
- Global DTC subscribers increased by 1.6 million to reach 97.6 million.
Headline financials
Revenue & EPS history
Warner Bros Discovery · Revenue · Quarterly
$10.7B
Revenue by segment
Warner Bros Discovery · $3.21B total across 1 segment · Q1 2023
- Studios$3.21B—100.0%
Forward guidance
Warner Bros. Discovery anticipates U.S. DTC business profitability for 2023 and focuses on driving free cash flow and reducing debt.
Tailwinds
- Meaningful turn in DTC segment EBITDA.
- Increase in net DTC subscribers.
- Expected profitability of the U.S. DTC business in 2023, ahead of previous guidance.
- Positioned to drive free cash flow.
- Focused on deleveraging the balance sheet.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-1.5%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-1.4%
Avg return
30 days after
37%
26 / 71 earnings
Positive
+11.6%
Q3 2019
Best reaction
-17.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -0.6% | -3.6% | |
| Q4 2025 | -0.4% | -2.4% | -6.3% | |
| Q3 2025 | -1.5% | +1.3% | +14.6% | |
| Q2 2025 | -8.0% | +1.6% | +2.1% | |
| Q1 2025 | +5.3% | +7.2% | +14.7% | |
| Q4 2024 | +4.8% | +7.8% | -1.2% | |
| Q3 2024 | +9.5% | +10.0% | +27.2% | |
| Q2 2024 | -7.3% | -11.4% | -4.6% | |
| Q1 2024 | +4.5% | +9.7% | +6.0% | |
| Q4 2023 | -10.6% | -8.9% | -11.7% | |
| Q3 2023 | -17.0% | -14.8% | -1.2% | |
| Q2 2023 | +11.3% | +14.9% | -7.9% | |
| Q1 2023 | +9.2% | +5.8% | -4.7% | |
| Q4 2022 | +0.8% | +1.3% | -9.2% | |
| Q3 2022 | -17.7% | -20.7% | -8.9% | |
| Q2 2022 | -12.7% | -21.6% | -21.8% | |
| Q1 2022 | -12.4% | -15.6% | -16.4% | |
| Q4 2021 | +0.1% | -0.4% | -3.0% | |
| Q3 2021 | +3.7% | +7.0% | -2.3% | |
| Q2 2021 | -2.6% | -0.2% | -0.5% | |
| Q1 2021 | -2.7% | -7.4% | -17.7% | |
| Q4 2020 | +4.3% | +4.4% | +22.0% | |
| Q3 2020 | +1.9% | +11.6% | +38.7% | |
| Q2 2020 | -1.7% | -1.0% | +3.6% | |
| Q1 2020 | -3.4% | -4.3% | +16.6% | |
| Q4 2019 | -2.9% | -0.9% | -28.1% | |
| Q3 2019 | +11.6% | +11.0% | +15.7% | |
| Q2 2019 | +2.3% | +1.0% | -6.1% | |
| Q1 2019 | -5.0% | -7.1% | -11.8% | |
| Q4 2018 | -2.0% | -0.4% | -7.9% | |
| Q3 2018 | -0.3% | -2.9% | -12.5% | |
| Q2 2018 | -4.7% | -3.5% | +2.6% | |
| Q1 2018 | -4.7% | +2.7% | -2.7% | |
| Q4 2017 | -3.4% | -2.0% | -14.9% | |
| Q3 2017 | -13.8% | -9.6% | +1.6% | |
| Q2 2017 | -9.0% | -11.5% | -17.2% | |
| Q1 2017 | -4.2% | -4.3% | -4.3% | |
| Q4 2016 | -1.9% | -1.2% | -3.0% | |
| Q3 2016 | -3.5% | -1.8% | +4.0% | |
| Q2 2016 | +8.3% | +6.3% | +3.7% | |
| Q1 2016 | +6.4% | — | — | |
| Q4 2015 | -5.1% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | -9.1% | — | — | |
| Q1 2015 | -4.1% | — | — | |
| Q4 2014 | +0.1% | — | — | |
| Q3 2014 | -3.4% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -6.5% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | +4.1% | — | — | |
| Q2 2013 | -5.5% | — | — | |
| Q1 2013 | -2.6% | — | — | |
| Q4 2012 | -1.7% | — | — | |
| Q3 2012 | -4.5% | — | — | |
| Q2 2012 | -3.2% | — | — | |
| Q1 2012 | -6.7% | — | — | |
| Q2 2011 | -0.7% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | +5.1% | — | — | |
| Q1 2011 | +3.5% | — | — | |
| Q2 2010 | -0.9% | — | — | |
| Q4 2010 | -0.9% | — | — | |
| Q3 2010 | -4.1% | — | — | |
| Q1 2009 | +4.9% | — | — | |
| Q1 2010 | -1.3% | — | — | |
| Q4 2008 | +0.2% | — | — | |
| Q4 2007 | +0.2% | — | — | |
| Q2 2009 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — | |
| Q3 2009 | +4.4% | — | — |
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