Posted 2/23/2024, 5:00:00 PM
Warner Bros. Discovery Stock Sinks as Earnings Disappoint and Company Withholds Financial Forecasts
- Warner Bros. Discovery (WBD) stock drops 11% as Q4 earnings disappoint and company does not provide 2024 financial guidance
- Weak linear advertising and struggling film/TV studios dragged on earnings
- Lack of quantitative 2024 forecast "challenges confidence" in management's turnaround plan
- WBD has been paying down debt and growing free cash flow, but investors want specific financial commitments
- Analysts saycompany needs to provide 2024 guidance to regain investor trust in its "attack plan"