Warner Bros. Discovery (NASDAQ: WBD), a leading media and entertainment company, has reported financial results for the fourth quarter of 2023.
- Q4 revenue was $10.28 billion, down 7% from the prior-year quarter on a reported basis and currency-adjusted basis
- Net loss available to the company was $400 million in the fourth quarter, vs. a loss of $2.10 billion in the year-ago quarter
- On a per-share basis, the December-quarter loss narrowed to $0.16 from $0.86 in the same period of 2022
- Total Adjusted EBITDA came in at $2.47 billion in Q4, which is down 5% from the prior year quarter
- Cash provided by operating activities increased to $3.58 billion; free cash flow moved up to $3.31 billion
- The company ended the quarter with $4.3 billion of cash on hand and $44.2 billion of gross debt