Warner Bros. Discovery, Inc. (WBD) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 26, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

00:03 Ladies and gentlemen, thank you for standing by, and welcome to the Warner Bros. Discovery, Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Additionally, please be advised that today's conference call is being recorded.

00:28 I would now like to hand the conference over to Mr. Andrew Slabin, Executive Vice President, Global Investor Strategy. Sir, you may begin.

Andrew Slabin - EVP, Global Investor Strategy

00:39 Good morning and welcome to Warner Bros. Discovery's Q1 earnings call. With me today is David Zaslav, our President and Chief Executive Officer; and Gunnar Wiedenfels, our Chief Financial Officer.

00:52 Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. These statements are made based on management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from our expectations. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. For additional information on important factors that could affect these expectations, please see our Form 10-K for the year ended December 31, 2021, and our subsequent filings made with the US Securities and Exchange Commission. You should have received a copy of our Q1 results. If not, please feel free to visit our website at ir.wbd.com.

01:44 With that, let me turn the call over to David.

David Zaslav - President and CEO

01:48 Good morning, and thank you all for joining us. Two weeks ago we closed our transformational merger and began our next chapter as Warner Bros. Discovery. As we began the exciting work of bringing together the rich legacies of these two great companies, our mission is simple, to be the world's best storytellers with world-class products for consumers.

02:16 It's been fantastic to finally have the teams working together, and I loved having the opportunity to get time with the new leaders across WarnerMedia, as well as thousands of employees across key locations in the US. And I couldn't be more impressed by the strong sense of motivation and excitement, an opportunity to unleash the potential of the combined talent pool of this new grade company.