Warner Bros. Discovery cuts a 2023 earnings forecast, citing Hollywood strike-related costs

. Discovery is cutting one of its full-year earnings forecasts, saying it will likely incur $300 million to $500 million in costs due to the ongoing Hollywood writers and actors' strikes.

The U.S. film and television industries remain paralyzed by dual strikes by its actors and screenwriters. The writers strike began in May and the actors joined them on July 14.taxes , depreciation and amortization to be between $10.5 billion to $11 billion, due to the anticipated strike-related costs. It previously predicted its adjusted EBITDA would be at the low end of a range of $11 billion to $11.5 billion.

“While is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end. With both guilds still on strike today, the company now assumes the financial impact to of these strikes will persist through the end of 2023,” the company stated.

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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.
منبع: THR - 🏆 411. / 53 ادامه مطلب »

Warner Bros. Discovery cuts a 2023 earnings forecast, citing Hollywood strike-related costsWarner Bros. Discovery is cutting one of its full-year earnings forecasts, saying it will likely incur $300 million to $500 million in costs due to the ongoing Hollywood writers and actors’ strikes.
منبع: AP - 🏆 728. / 51 ادامه مطلب »

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…
منبع: DEADLINE - 🏆 109. / 63 ادامه مطلب »

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.
منبع: CNBC - 🏆 12. / 72 ادامه مطلب »

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…
منبع: DEADLINE - 🏆 109. / 63 ادامه مطلب »