Warner Bros Discovery squeezed by studio slump, weak ad spending
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Warner Brothers Discovery (WBD) PT Lowered to $16 at Deutsche Bank
May 10, 2024 5:21 AM UTCDeutsche Bank analyst Bryan Kraft lowered the price target on Warner Brothers Discovery (NASDAQ: WBD) to $16.00 (from $18.00) while maintaining a Buy rating.
The analyst comments "We are maintaining our Buy rating and lowering our PT to $16, from $18, driven by our negative estimate revisions... More
Warner Bros. Discovery (WBD) earnings, revenue miss consensus estimates
May 9, 2024 7:41 AM UTC(Updated - May 9, 2024 10:52 AM EDT)
Warner Bros. Discovery (NASDAQ: WBD) reported first-quarter results that fell short of Wall Street expectations. The company's shares initially fell but are now up 1.5% on the day.
The media giant posted an adjusted loss per share of -$0.40, which was $0.17 below the analyst estimate of -$0.23. Revenue for the quarter also missed the mark, coming in at $9.96 billion compared to the consensus estimate of $10.22 billion.
The company's revenue decreased by 7% from the same quarter last year, excluding foreign exchange... More
