Warner Bros. Discovery Gets Wall Street Upgrade As Analysts Weigh Streaming Profit Vs. Earnings Miss

📆 5/5/2023 1:01 PM
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'The accelerated timeline for U.S. direct-to-consumer profitability is more important than what appears to largely be a timing-related miss in the first quarter,' notes one finance expert.

Wall Street has over the past year often urged Hollywood giants to prove that they can write black streaming ink instead of bleeding money, with management teams typically vowing to do so starting in 2024 or beyond.

So the news came as a coup for the company as CEO David Zaslav touted that WBD’s U.S. streaming business would post a profit for 2023, a year ahead of the original target. And he told analysts on a conference call: “Our U.S. streaming business is no longer a bleeder. It is hard to run a business when you have a big bleeder.”

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