WarnerBrosDiscovery CEO DavidZaslav & his team addressed the SAGAFTRA & WGA strikes, upcoming TV/Film releases being 'fluid,' the future of news & sports on StreamOnMax, and more during today's Q2 2023 earnings call. / WBD DCStudios
: As far as the flow of free cash goes, WBD reached $1.7B – more than doubling the $789M from this same quarter last year and surpassing Wall Street's thoughts on the matter. With streaming losses beginning to slow down and WBD now looking for $5B in cost savings post-WarnerMedia/Discovery merger , WBD saw a little hope in the early hours of trading .
From a financial standpoint, Wiedenfels said that the company's modeling is based on the strikes being resolved and work beginning again in September."Should the strikes run until the end of the year, I would expect several hundred millions in incremental upside to our free cash flow guidance and some incremental downside to our adjusted EBITA," Wiedenfels added.
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