Wednesday will mark a media earnings double-header as Warner Bros. Discovery CEO David Zaslav and Disney CEO Bob Iger present Wall Street with their latest quarterly financials. And the pressure is on to see if the legacy media giants can continue this earnings season’s trend of narrower direct-to-consumer losses and upbeat guidance.
“Based on the success of Netflix, Peacock and Paramount’s earnings, I expect promising results from both Warner Bros. Discovery and Disney,” Omdia media analyst Sarah Henschel told TheWrap. “Entertainment typically also does well during the holiday timeframe so it’s likely that these services will post continued subscriber and/or revenue momentum through the end of the year.”