Warner Bros. Discovery (NASDAQ:WBD) Issues Earnings Results, Beats Expectations By $0.12 EPS

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) issued its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12, Briefing.com reports. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) EPS. The company's quarterly revenue was down 3.6% on a year-over-year basis.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.19 during trading hours on Friday, hitting $9.18. 52,663,437 shares of the stock were exchanged, compared to its average volume of 24,571,940. The company has a market cap of $22.51 billion, a PE ratio of -1.91 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company's fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $7.83.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research reports. Evercore ISI reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Monday, October 7th. Morgan Stanley cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, July 29th. TD Cowen cut their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Sanford C. Bernstein cut shares of Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Hold" and an average price target of $10.55.

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.