Warner Bros Discovery (WBD.O) on Tuesday lowered its annual core profit forecast, as it expects the hit from the Hollywood actors and writers strikes to drag until the end of the year.
The company now expects adjusted earnings for the full year to be in the range of $10.5 billion to $11 billion. It had previously expected adjusted earnings to be towards the low end of $11 billion to $11.5 billion.
Warner Bros Discovery had previously provided financial guidance for 2023 expecting the strikes to be resolved by early September.
The company had noted that if the strikes were to continue through the end of the year, it expected marginal gain in free cash flow and a slight decrease in adjusted earnings.
