Warner Bros. Discovery trimmed its full-year earnings guidance for 2023 on Tuesday by $300 million to $500 million because of the continued strike by actors and writers, which has stopped production of most shows and movies.
NEW YORK — Warner Bros. Discovery trimmed its full-year earnings guidance for 2023 on Tuesday by $300 million to $500 million because of theThe corporate parent of CNN had previously told investors that it expected the strike to be over by early September. But Warner Bros. Discovery now says it cannot predict when the strike will ultimately end, and it assumes the impact will continue through the rest of this year.
"WBD is hopeful that these strikes will be resolved soon," said a filing the company made with the Securities and Exchange Commission with its new guidance early Tuesday. The company said even with the $300 million to $500 million hit to adjusted earnings before interest, taxes, depreciation and amortization, it expects that key earnings measure to come in at $10.5 billion to $11 billion for the year.Cash flow is expected to be somewhat higher than previously expected due to a combination of money saved from the lack of film and show production and continued strong box office from its hit movie "Barbie." The film has reported global ticket sales of $1.
Other companies that are being struck include Apple, Amazon, CBS, Disney, NBC Universal, Netflix, Paramount Global and Sony.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
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.
Weiterlesen »
Warner Bros. Discovery: $300M-$500M Hit from SAG-AFTRA/WGA StrikesCEO David Zaslav's Warner Bros. Discovery is expecting an earnings hit of $300M-$500M this year for not doing right by SAG-AFTRA & the WGA.
Weiterlesen »
Warner Bros. warns of profit hit of up to $500M over Hollywood strikesWarner Bros Discovery is bracing for a hit to its full-year profit as the ongoing Hollywood actors and writers strike shows no signs of let-up.
Weiterlesen »
Warner Bros. Discovery’s Boomerang Rebrands to Cartoonito in Nordics, Turkey, Middle East and North Africa'Cartoonito is Warner Bros. Discovery’s biggest commitment to programming for children aged 2 to 6.'
Weiterlesen »
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…
Weiterlesen »
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.
Weiterlesen »