Direct-to-Consumer SegmentDirect-to-Consumer segment facing slowing subscription growth and reduced earnings before interest, taxes, depreciation, and amortization estimates.
Financial PerformanceLowering FY24 Estimates to Reflect Potential Continued Studio Drag; Q4 revenue and adj. EBITDA both approximately 5% below estimates.
Stock RecommendationAnalyst maintains a Neutral rating on Warner Bros Discovery shares and lowers the December 2024 price target to $10, citing challenges such as 'a challenged advertising environment, elevated domestic video subscriber declines, evolving DTC marketplace, and pick up in investments.'