Warner Bros. Discovery, Inc. (DISCA) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21
	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
U.S. Networks					2,025	1,858		1,806
International Networks					1,164	1,295		987
Corporate			13
Other			9,814
Total revenues	10,358	10,700	9,827	3,159	3,187	3,150	3,062	2,792
Revenue growth [+]	5.4%	238.7%	220.9%	13.1%	10.4%	23.0%	20.5%	4.1%
U.S. Networks					13.9%	12.0%		2.8%
International Networks					5.3%	43.6%		6.9%
Cost of goods sold	6,636	6,685	6,625	1,236	964	1,529	1,055	969
Gross profit	3,722	4,015	3,202	1,923	2,223	1,621	2,007	1,823
Gross margin	35.9%	37.5%	32.6%	60.9%	69.8%	51.5%	65.5%	65.3%
Selling, general and administrative [+]	2,562	2,388	3,538	1,040	1,069	944	952	1,051
General and administrative					1,069
Equity in earnings	-22	-37	-43	-14	2	-9	-7	-4
Other operating expenses					71
EBITDA [+]	1,138	1,590	-379	869	1,085	668	1,048	768
EBITDA growth	-400.3%	83.0%	-136.2%	13.2%	8.9%	-26.4%	-2.3%	-30.1%
EBITDA margin	11.0%	14.9%	-3.9%	27.5%	34.0%	21.2%	34.2%	27.5%
Depreciation	1,914	2,058	2,266	525	539	341	73	361
EBITA	-776	-468	-2,645	344	546	327	975	407
EBITA margin	-7.5%	-4.4%	-26.9%	10.9%	17.1%	10.4%	31.8%	14.6%
Amortization of intangibles							268
EBIT [+]	-776	-468	-2,645	344	546	327	707	407
EBIT growth	-70.7%	-236.0%	-474.1%	-15.5%	-14.4%	-42.2%	-4.3%	-47.3%
EBIT margin	-7.5%	-4.4%	-26.9%	10.9%	17.1%	10.4%	23.1%	14.6%
Non-recurring items [+]	152	126	1,037	5	36	7	-65	15
Asset impairment	6	31	4
Loss (gain) on disposal of assets					1		-72
Interest expense, net [+]	574	571	511	153	154	159	157	162
Interest expense	574	571	511	153	154	159	157	163
Interest income								1
Other income (expense), net [+]	22	-73	-51	490	-173	72	105	67
Gain (loss) on debt retirement	-5					-6
Other	27	-73	-51	490	-173	78	105	68
Pre-tax income	-1,480	-1,238	-4,244	676	183	233	720	297
Income taxes	-260	-178	-836	201	92	36	2	106
Tax rate	17.6%	14.4%	19.7%	29.7%	50.3%	15.5%	0.3%	35.7%
Net income	-1,220	-1,060	-3,408	475	91	197	718	191
Net margin	-11.8%	-9.9%	-34.7%	15.0%	2.9%	6.3%	23.4%	6.8%

Basic EPS [+]	($0.50)	($0.44)	($1.49)	$0.80	$0.18	$0.39	$1.22	$0.33
Growth	-66.4%	-154.2%	-222.3%	146.2%	-71.3%	-40.4%	106.4%	-58.5%
Diluted EPS [+]	($0.50)	($0.44)	($1.49)	$0.71	$0.14	$0.30	$1.08	$0.29
Growth	-66.4%	-161.0%	-237.9%	149.4%	-71.0%	-39.5%	142.9%	-51.8%

Shares outstanding (basic) [+]	2,437	2,432	2,286	591	503	506	589	585
Growth	6.6%	311.5%	288.1%	1.0%	-0.4%	0.2%	15.9%	13.2%
Shares outstanding (diluted) [+]	2,437	2,432	2,286	665	664	663	664	667
Growth	6.6%	265.7%	244.3%	-0.3%	-1.2%	-1.3%	-1.5%	-2.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.