NASDAQ$WBD
Warner Bros Discovery Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Warner Bros. Discovery's Q3 2023 earnings were released, revealing a slight revenue increase and significant growth in Adjusted EBITDA.
Warner Bros. Discovery reported a slight increase in Q3 revenues, growing to $9.979 billion. The company's Adjusted EBITDA saw substantial growth, increasing by 22% ex-FX. Free cash flow reached $2.059 billion, and the company made significant strides in debt repayment, reducing it by $2.4 billion during the quarter. Global DTC subscribers experienced a slight decrease, while global DTC ARPU increased by 6% ex-FX.
- Total revenues reached $9.979 billion, with a 1% increase ex-FX compared to the prior year quarter.
- Adjusted EBITDA increased by 22% ex-FX compared to the prior year quarter, reaching $2.969 billion.
- Free cash flow increased to $2.059 billion.
- Global DTC subscribers decreased slightly to 95.1 million, while global DTC ARPU increased by 6% ex-FX to $7.82.
Headline financials
Revenue & EPS history
Warner Bros Discovery · Revenue · Quarterly
$9.98B
Revenue by segment
Warner Bros Discovery · $3.23B total across 1 segment · Q3 2023
- Studios$3.23B+4.5%100.0%
Forward guidance
Warner Bros. Discovery is not able to provide a reconciliation of the non-GAAP forward-looking commentary to comparable GAAP measures as, at this time, the Company cannot determine the occurrence or impact of the adjustments, such as the effect of future changes in foreign currency exchange rates or future acquisitions or divestitures that would be excluded from such GAAP measures.
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 Q3 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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