Summary
Warner Bros. Discovery, Inc. (WBD) filed an 8-K on February 23, 2023, to furnish its earnings press release and updated trending schedules for the quarter and year ended December 31, 2022. The primary focus of this filing is the release of its fourth-quarter and full-year 2022 financial results. Investors should note that the company is providing updated "Trending Schedules" which offer pro forma financial information to help assess performance post-merger and following changes in reportable segments. These updated schedules incorporate several pro forma adjustments related to content amortization, affiliate relationships, depreciation, and subscriber recognition. The furnishing of this information, including the press release and trending schedules, is for informational purposes and is not considered 'filed' under Section 18 of the Securities Exchange Act. Investors seeking detailed financial performance and operational metrics should refer to the earnings press release (Exhibit 99.1) and the updated trending schedules (Exhibit 99.2) as referenced in the filing.
Key Highlights
- 1WBD released its Q4 and full-year 2022 earnings results on February 23, 2023.
- 2The 8-K filing furnished the company's earnings press release and updated trending schedules.
- 3Updated "Trending Schedules" provide pro forma financial information to aid in assessing performance post-merger and segment changes.
- 4Several pro forma adjustments were made to the trending schedules, including content amortization, affiliate fair value, depreciation allocation, and subscriber recognition.
- 5The filing incorporates by reference Exhibit 99.1 (Earnings Press Release) and Exhibit 99.2 (Updated Trending Schedules).
- 6The furnished information is not considered 'filed' for purposes of Section 18 of the Exchange Act.