Overview

* Warner Bros. Discovery ( WBD ) Q3 total revenue falls 6% yr/yr, impacted by distribution and advertising declines

* Adjusted EBITDA rises 2% yr/yr, driven by Streaming and Studios growth

* Company repaid $1.2 bln of debt, including $1.0 bln bridge loan facility

Result Drivers

* STREAMING GROWTH - Streaming segment saw a 24% increase in Adjusted EBITDA due to subscriber growth and new distribution deals

* STUDIOS PERFORMANCE - Studios segment revenues rose 23% ex-FX, driven by strong theatrical releases and content licensing

* LINEAR NETWORKS DECLINE - Global Linear Networks revenues fell 23% ex-FX, impacted by subscriber declines and lower advertising revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Free $700 mln

Cash

Flow

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the broadcasting peer group is "buy"

* Wall Street's median 12-month price target for Warner Bros Discovery Inc ( WBD ) is $20.77, about 9.6% below its November 5 closing price of $22.76

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)