Warner Bros. Discovery, Inc. (WBD) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 3, 2022 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Warner Bros. Discovery Third Quarter 2022 Earnings Conference Call. At this time, all participant lines 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.

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

Andrew Slabin - EVP, Global Investor Strategy

Good afternoon and welcome to Warner Bros. Discovery’s Q3 earnings call. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games.

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, our quarterly Form 10-Q for the quarter ended September 31, 2022 that we expect to file with the SEC today as well as our subsequent filings made with the SECTOR.

A copy of our Q3 earnings release, trending schedule and accompanying slide deck is available on our website at ir.wbd.com.

And with that, I'm pleased to turn the call over to David.

David Zaslav - President and CEO

Hello everyone and thank you for joining us. Let me start by saying I am pleased with all that we have accomplished in just our first six months as a combined company. We have had to work through a number of really tough issues; some anticipated, some unexpected and we continue to make the difficult decisions that we know are necessary to position our company for long-term growth and success.