Earnings

Warner Bros. Discovery (WBD) Q1 2022 earnings

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David Zaslav

Anjali Sundaram | CNBC

Warner Bros. Discovery shares fell Tuesday after the company warned its 2022 profit would be lower than expected in light of a “messy” combination of assets.

Chief Financial Officer Gunnar Wiedenfels said during the company’s first earnings conference call since merging WarnerMedia and Discovery that “unexpected projects” and weaker first-quarter WarnerMedia operating profit and cash flow led to the new guidance.

“Q1 operating profit and cash flow for WarnerMedia were clearly below my expectations,” Wiedenfels said. “I currently estimate the WarnerMedia part of our profit baseline for 2022 will be around $500 million lower than what I had anticipated,…



Source cnbc.com

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