Warner Bros. Discovery sees FY23 adjusted EBITDA low- to mid-$11B range

Sees FY23 EBITDA growth low- to mid-20% range. Says expects to convert approximately one third to one half of free cash flow into EBITDA. Says expects Q1 free cash to be negative and low point for the year. Says making meaningful progress on goal to achieve profitability in streaming. Says Michael De Luca and Pamela Abdy signed a deal to make multiple "Lord of he Rings" movie. Says games business is a substantial opportunity. Says Hogwarts Legacy launch was delayed to get it right. Says Hogwarts Legacy has received $850M in retail sales already. Says "The Last of Us" grew from Sunday premier night by 1M viewers over each episode. Says realized $1B of synergies in FY22. Says experienced choppy macro tides. Comments and guidance taken from Q4 earnings conference call.