WB Discovery Achieves First Full-Year Streaming Profit in 2023

Despite financial success, the company grapples with share price decline and challenges in studio and network divisions.

Warner Bros. Discovery reports a full-year streaming profit of $103 million for 2023, marking a significant turnaround from a $2.1 billion loss in 2022.
Despite the overall positive financial performance, WB Discovery faces challenges with a 10% slide in share price following Q4 earnings announcement.
The company's studio and linear networks divisions experienced year-over-year declines in revenue and earnings, attributed partly to the impact of Hollywood strikes.
WB Discovery's long-term debt reduced from $48 billion at the end of 2022 to $42 billion by the end of 2023, with no significant payments due in the near future.
The company explores new strategies for growth, including international expansion of its streaming service Max and a sports streaming venture with Disney and Fox Corp.