- Needham analyst Laura Martin reiterated the Hold on Warner Bros. Discovery, Inc (NASDAQ:WBD).
- Martin cut her 3Q22 revenue, operating income, and EPS estimates for WBD.
- She reduced her advertising revenue estimate by 10% (to down 9% Y/Y) to reflect WBD guidance of high single to low double-digit declines, owing to current scatter market softness.
- She cut her distribution revenue estimate by 2% (down 3% Y/Y) due to linear TV sub losses.
- She saw more significant FX headwinds than previously anticipated.
- She saw tougher comps because last year benefited from the Summer Olympics (held in 3Q21).
- These negative adjustments were partially offset by higher content revenue because WBD licensed the Lord of the Rings library movies to Amazon.com Inc (NASDAQ:AMZN) to coincide with its streaming release of The Rings of Power, higher cost synergies at WBD, and higher share count.
- Price Action: WBD shares traded higher by 4.02% at $12.82 on the last check Tuesday.
Redditors Predict Economic Doom, Brace For US Collapse: ‘Only Time Will Tell How Bad It Will Truly Get’
Reddit users are increasingly predicting an economic collapse in the U.S., with some even preparing for a scenario similar to the Soviet Union’s demise after the Cold War. The growing concern is being fueled by factors such as inflation, debt, and job market instability.
