Checking in on Warner Bros. Discovery on the two-year anniversary of its formation, MoffettNathanson analyst Robert Fishman highlights what has been a “choppy” ride that's about to get choppier.
With the company's stock price at nearly an all-time low, Fishman now predicts total WBD revenue to come in at around $41 billion in 2024 -- about $12 billion below his original forecast — with fast-eroding linear networks unable to keep up with the hungry resource demands of DTC streaming, and more than $40 billion of debt continuing to cast a huge shadow.
