expects the ongoing Hollywood strikes to have a $300 million-$500 million negative impact on the company’s 2023 earnings.
In an SEC filing Wednesday, the David Zaslav-led media giant stated it was expecting lower adjusted earnings for the full year between $10.5 billion-$11 billion, based on the projection that the continuing WGA and SAG-AFTRA work stoppages will mean a hit of $300 million to $500 million for the company.
“While WBD is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end,” Warner Bros. Discovery wrote. “With both guilds still on strike today, the Company now assumes the financial impact to WBD of these strikes will persist through the end of 2023.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warner Bros. Discovery Says Ongoing Strikes Will Mean $300M-$500M Hit to 2023 Earnings'The company now expects to exceed $1.7 billion in free cash flow for the third quarter of 2023, in part due to the strong performance of 'Barbie' as well as incremental impact from strike-related factors,' the entertainment giant says in a regulatory filing.
Source: THR - 🏆 411. / 53 Read more »
Warner Bros. Discovery Expects Earnings Hit Of Up To $500 Million From Strikes This YearThe financial impact of ongoing actors and writers strikes as a number on it now as Warner Bros. Discovery said today it’s looking at a hit of $300 million to $500 million in adjusted EBTITDA (earn…
Source: DEADLINE - 🏆 109. / 63 Read more »
Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag onWarner Bros. Discovery cut profit expectations as the writers' and actors' strikes drag on, keeping production halted.
Source: CNBC - 🏆 12. / 72 Read more »
Warner Bros. Discovery Sees Earnings Hit From Strikes Of Up To $500 Million This YearThe financial impact of ongoing actors and writers strikes has a number on it now, or one at least, as Warner Bros. Discovery said today it’s looking at a hit of $300 million to $500 million in adj…
Source: DEADLINE - 🏆 109. / 63 Read more »