What to expect from Warner Bros. Discovery Q3 Earnings
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Warner Bros. Discovery (NASDAQ:WBD) is scheduled to announce Q3 earnings results on Thursday, November 3rd, after market close.
The consensus EPS Estimate is -$0.05 (-120.8% Y/Y) and the consensus Revenue Estimate is $10.33B (+227.9% Y/Y).
The company is expecting to book a pre-tax charge of $1.3B to $1.6B in the quarter for restructuring its businesses.
More than 50% of the company's revenues comes from advertising and Q3 is expected to have witnessed a steady ad-spending environment.
Warner Bros. Discovery chief financial officer Gunnar Wiedenfels has suggested the company's streaming services are "ââfundamentally underpriced." Wiedenfels made the comments during an appearance at the Goldman Sachs Communacopia + Tech Conference in September, where he discussed Warner Bros.' plans to merge HBO Max and Discovery+ into a single platform next year.
Earnings History:
In Q2, the company saw top line growth of more than 200% Y/Y and ended the quarter with 92.1M global DTC subscribers compared with 90.4M subscribers in Q1.
Over the last 2 years, WBD has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time. 
Over the last 3 months, EPS estimates have seen 3 upward revisions and 9 downward. Revenue estimates have seen 3 upward revisions and 12 downward.
Analysts Ratings:
KeyBanc analyst Brandon Nispel on Oct 26 lowered his estimates on the media sector, rebuilding his model in the face of the group's heavy challenges - notably the macroeconomic downturn and increasing competition for ads in a tough environment. Nispel said "the WarnerMedia assets need fixing, which likely leads to negative underlying growth" Nispel added that Warner Bros. Discovery (WBD) is unlikely to outperform amid a large pay TV business and the lack, for now, of a combined HBO Max/Discovery+ streaming service.
Barclays lowered their price target on WBD from $17 to $15 on October 11.
Credit Suisse Group lowered their price target from $39 to $36 and set an "outperform" rating for the company.
10 out of 25 Wall Street Analysts have a Strong Buy rating on the stock, 3 says to Buy and 11 Hold rating.
SA Quant rating system screens the stock with a Hold rating.
On Apr 8, Discovery and AT&T's Warner Media unit completed the merger to form a combined company, Warner Bros. Discovery.
A quick look at the company's performance vs. broader market index and peers: