Warner Bros Discovery Inc (NASDAQ:WBD) Q4 2023 Earnings Conference
The following is a summary of the Warner Bros. Discovery, Inc. (WBD) Q4 2023 Earnings Call Transcript: Financial Performance: Warner Bros. Discovery reduced its debt by $5.4 billion in the year to stand at 3.9 times levered, continuing its plan to de-lever in 2024. Generated meaningful free cash flow ending the year at $6.2 billion, exceeding its goal, with improved free cash flow for Q1 compared to the previous year. Achieved a 12% year-on-year growth in EBITDA, despite industry-wide challenges. Total combined merger and transformation savings now stand at $4 billion. The D2C segment generated a positive EBITDA of about $100 million, reflecting a $2.2 billion improvement year-over-year. Focused on continued debt repayment, capital efficiency, and driving shareholder value with a long-term gross leverage target of 2.5x to 3x. Business Progress: Warner Bros. Discovery has been focusing on digital and advanced advertising solutions, noting strong international network performance, particularly in […]
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