Warner Bros. Discovery (WBD) 10-K Summary — Year Ended Dec 31, 2023
Warner Bros. Discovery, Inc. filed its annual report for the most recent fiscal year. The report details the company's financial results, risk factors, and liquidity position.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Warner Bros. Discovery, Inc. filed its annual report for the most recent fiscal year. The report details the company's financial results, risk factors, and liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$41.3B
Revenue reported for the fiscal year.
Operating income
-$1.5B
Income from operations reported for the year.
Net income
-$3.1B
Net income reported for the year.
Operating cash flow
$7.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $12.2B | n/a |
| Dec 31, 2022 | $33.8B | +177.4% |
| Dec 31, 2023 | $41.3B | +22.2% |
Business overview
The filing's Business section describes the company's operations and strategic focus. This section is located in Item 1 of the report.
Financial performance
Revenue increased compared to the prior year. However, the company reported an operating loss and a net loss for the period. Cash flow from operations remained positive.
Material risks
The filing identifies several risk factors in Item 1A. These risks cover areas such as the company's competitive environment, debt levels, and content costs. Readers should refer to the full filing for detailed descriptions.
Liquidity and capital
The company held a significant cash balance and had access to a revolving credit facility. It also issued senior notes during the year to manage its capital structure.
What to watch
Monitor whether the company's operating income improves from the prior year, as it reported a loss in the current period.