Warner Bros. Discovery GAAP EPS of -$0.86 misses by $0.41, revenue of $11.01B misses by $220M
Warner Bros. Discovery press release (NASDAQ:WBD): Q4 GAAP EPS of -$0.86  misses by $0.41.
Revenue of $11.01B (+245.1% Y/Y)  misses by $220M.
Total Adjusted EBITDA was $2,603 million. Adjusted EBITDA decreased 2% ex-FX compared to the prior year quarter, on a combined basis.
Q4 cash provided by operating activities increased to $2,846 million and reported free cash flow increased to $2,482 million.
Ended Q4 with $3.9 billion of cash on hand, $49.5 billion of gross debt, and 5.0x net leverage.
Global DTC subscribers increased 1.1 million to 96.1 million at the end of Q4 versus 95.0 million subscribers at the end of Q3, helped in part by the re-launch of HBO Max on Amazon Channels in December 2022.
In Q4, TBS, TLC, and TNT were among the top-5 cable networks in Primetime for adults 25-54.
Continued strength in storytelling as highlighted by our 22 nominations and 8 wins at the 80th Golden GlobeÂ® Awards, and our 14 Academy AwardÂ© nominations, including Best Picture and Best Actor in a Leading Role nods for Warner Bros. Picturesâ Elvi.