tiprankstipranks
Warner Bros. Discovery (NASDAQ: WBD) Rises as Losses Narrow in Q2
Market News

Warner Bros. Discovery (NASDAQ: WBD) Rises as Losses Narrow in Q2

Story Highlights

Warner Bros. Discovery reported Q2 results with its losses narrowing in the quarter.

Warner Bros. Discovery (NASDAQ: WBD), the media and entertainment conglomerate was up in pre-market trading at the time of writing as the company’s losses narrowed in the second quarter to a loss of $0.51 per share as compared to a loss of $1.50 per share. Analysts were expecting the company to report a loss of $0.35 per share.

Don't Miss our Black Friday Offers:

WBD generated revenues of $10.35 billion in Q2, down by 4% year-over-year, excluding exchange rate fluctuations but fell short of consensus estimates of $10.44 billion.

David Zaslav, Warner Bros. Discovery’s President and CEO commented, ” This quarter alone we reported over $1.7 billion in free cash flow, and we remain bullish with respect to our delevering story and expect to be comfortably below 4.0x levered by the end of the year and at our target of 2.5-3.0x gross leverage by the close of 2024.”

Analysts are bullish about WBD stock with a Strong Buy consensus rating based on 11 Buys and three Holds.

Related Articles
TheFlyGames sales in Europe jump 12.4% y/y in October, GI.biz reports
TheFlyMicrosoft says Game Pass users can stream select games they own on cloud
TheFlyWarner Bros. Discovery call volume above normal and directionally bullish
Go Ad-Free with Our App