Warner Bros. Discovery (NASDAQ:WBD) Posts Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16), Briefing.com reports. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share.

Warner Bros. Discovery Trading Up 1.4 %

NASDAQ:WBD traded up $0.11 on Friday, hitting $8.15. 35,480,676 shares of the stock were exchanged, compared to its average volume of 27,778,857. The stock has a market cap of $19.88 billion, a PE ratio of -6.47 and a beta of 1.51. Warner Bros. Discovery has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $9.80.

Analyst Ratings Changes

WBD has been the subject of several research reports. Rosenblatt Securities raised Warner Bros. Discovery from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, February 26th. KeyCorp raised shares of Warner Bros. Discovery from a "sector weight" rating to an "overweight" rating and set a $11.00 price objective for the company in a research note on Friday. Citigroup reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Finally, Barclays dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.32.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.