Warner Bros. sales in 4Q23 dragged down to $10.284M after 12% drop in ad revenue


Bankinter | The US film and entertainment company has released results that largely fail to meet expectations. 4Q 2023 figures (against Bloomberg consensus): Revenue $10,284M vs. $10,465M estimate, EBITDA $2,471M vs. $2,805M estimate, adjusted EPS -0.16$ vs -0.092$ estimate. The published figures are negatively impacted by the -12% drop in ad revenue.

The company beat analyst estimates in direct-to-consumer subscribers, reaching 97.7 million, including acquisitions such as Turkish streaming service BluTV. This underscores the company’s growth potential in the streaming space.

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