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Warner Bros. Discovery, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $9,623 million, a decrease from $9,979 million in the same quarter the previous year. This decline is attributed to decreases in distribution, advertising, and content revenues.
Costs and expenses for the quarter totaled $9,342 million, compared to $9,882 million in the previous year. The decrease is primarily due to lower content expenses and restructuring charges.
The company reported an operating income of $281 million for the quarter, an increase from $97 million in the previous year, largely due to reduced costs and expenses.
Interest expense for the quarter was $494 million, down from $574 million in the previous year, reflecting lower debt levels.
Net income for the quarter was $141 million, compared to a net loss of $407 million in the previous year. After accounting for noncontrolling interests, net income available to Warner Bros. Discovery, Inc. stockholders was $135 million.
Cash provided by operating activities was $2,660 million, while cash used in investing and financing activities was $355 million and $3,149 million, respectively.
Warner Bros. Discovery had cash and cash equivalents of $3,336 million as of September 30, 2024. The company maintains a revolving credit facility with a capacity of $6 billion.
The filing also details various financial activities, including the issuance of senior notes and the sale of a minority interest in Formula E.
Warner Bros. Discovery continues to focus on its restructuring and transformation initiatives, which are expected to be substantially completed by the end of 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Warner Bros. Discovery Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.