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Warner Bros Discovery's shares fall as ad market recovery looks uncertain

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Warner Bros Discovery's shares fell on Friday as Wall Street sees more pain for the media giant that posted more than $2 billion in fourth-quarter losses and cut annual profit forecast as ad market weakness persists.

WBD cut its forecast for 2023 adjusted core earnings, or EBITDA, and now expects it to grow in low- to mid-twenties percentage. This implies a range of $11 billion to $11.5 billion, below its previous target of $12 billion.

But the market is focusing on profitability rather than the future industry growth trend, given the current economic conditions, CrispIdea analyst Subhendu Behera said.Wolfe Research analyst Peter Supino said the company's net debt was still very high and raised concerns about its high-pay TV exposure, at a time people are moving to streaming.The company reported a

 

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Serves 'em right: 90% of their programming is insulting and sophomoric. The other 10% is just sophomoric.

Hope they sell TV3 to Iwi 😉

JoeXiden 🇨🇳 regimes economy.

Zaz to the rescue. What a disaster.

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