Subtext

Warner Bros. Discovery, Inc. WBD

SectorCommunication Services
Transcripts58
Date range2011-02-11 – 2025-05-08
Calls charted58

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-24-12+0+12+242010 Q42012 Q42014 Q42016 Q42018 Q42020 Q42022 Q42024 Q42010 Q4 · Overall: +14.82011 Q1 · Overall: +15.32011 Q2 · Overall: +20.72011 Q3 · Overall: +8.42011 Q4 · Overall: +14.52012 Q1 · Overall: +11.92012 Q2 · Overall: +16.72012 Q3 · Overall: +11.52012 Q4 · Overall: +17.82013 Q1 · Overall: +9.02013 Q2 · Overall: +12.82013 Q3 · Overall: +13.52013 Q4 · Overall: +18.02014 Q1 · Overall: +15.42014 Q2 · Overall: +13.52014 Q3 · Overall: +10.82014 Q4 · Overall: +9.62015 Q1 · Overall: +13.92015 Q2 · Overall: +7.42015 Q3 · Overall: +12.52015 Q4 · Overall: +14.02016 Q1 · Overall: +13.62016 Q2 · Overall: +13.42016 Q3 · Overall: +10.32016 Q4 · Overall: +13.32017 Q1 · Overall: +8.62017 Q2 · Overall: +12.82017 Q3 · Overall: +8.82017 Q4 · Overall: +10.52018 Q1 · Overall: +10.62018 Q2 · Overall: +13.12018 Q3 · Overall: +12.42018 Q4 · Overall: +11.62019 Q1 · Overall: +12.62019 Q2 · Overall: +12.32019 Q3 · Overall: +13.22019 Q4 · Overall: +13.52020 Q1 · Overall: +7.12020 Q2 · Overall: +12.42020 Q3 · Overall: +13.92020 Q4 · Overall: +15.22021 Q1 · Overall: +12.72021 Q2 · Overall: +13.32021 Q3 · Overall: +13.92021 Q4 · Overall: +12.92022 Q1 · Overall: +12.82022 Q2 · Overall: +12.92022 Q3 · Overall: +9.32022 Q4 · Overall: +15.72023 Q1 · Overall: +14.72023 Q2 · Overall: +12.12023 Q3 · Overall: +15.62023 Q4 · Overall: +16.82024 Q1 · Overall: +12.32024 Q2 · Overall: +12.32024 Q3 · Overall: +15.62024 Q4 · Overall: +11.92025 Q1 · Overall: +14.9
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-34-17+0+17+342010 Q42012 Q42014 Q42016 Q42018 Q42020 Q42022 Q42024 Q42010 Q4 · CEO: +26.52011 Q1 · CEO: +26.32011 Q2 · CEO: +28.72011 Q3 · CEO: +20.32011 Q4 · CEO: +27.92012 Q1 · CEO: +21.12012 Q2 · CEO: +28.52012 Q3 · CEO: +20.32012 Q4 · CEO: +26.72013 Q1 · CEO: +14.82013 Q2 · CEO: +22.52013 Q3 · CEO: +19.22013 Q4 · CEO: +29.22014 Q1 · CEO: +27.02014 Q2 · CEO: +19.92014 Q3 · CEO: +19.02014 Q4 · CEO: +19.22015 Q2 · CEO: +13.92016 Q3 · CEO: +15.22016 Q4 · CEO: +17.52017 Q1 · CEO: +12.92017 Q2 · CEO: +19.42017 Q3 · CEO: +12.52017 Q4 · CEO: +16.82018 Q1 · CEO: +14.72018 Q2 · CEO: +25.42018 Q3 · CEO: +16.12018 Q4 · CEO: +24.32019 Q1 · CEO: +21.62019 Q2 · CEO: +14.42019 Q3 · CEO: +20.92019 Q4 · CEO: +20.02020 Q1 · CEO: +15.22020 Q2 · CEO: +22.22020 Q3 · CEO: +22.12020 Q4 · CEO: +18.52021 Q1 · CEO: +21.82021 Q2 · CEO: +20.72021 Q3 · CEO: +23.12021 Q4 · CEO: +18.72022 Q1 · CEO: +19.42022 Q2 · CEO: +20.52022 Q3 · CEO: +15.72022 Q4 · CEO: +23.02023 Q1 · CEO: +19.52023 Q2 · CEO: +17.72023 Q3 · CEO: +18.12023 Q4 · CEO: +23.82024 Q1 · CEO: +19.52024 Q2 · CEO: +17.62024 Q3 · CEO: +22.82024 Q4 · CEO: +16.92025 Q1 · CEO: +18.52010 Q4 · CFO: +10.62011 Q1 · CFO: +15.52011 Q2 · CFO: +18.72011 Q3 · CFO: +6.42011 Q4 · CFO: +10.72012 Q1 · CFO: +5.22012 Q2 · CFO: +10.72012 Q3 · CFO: +9.02012 Q4 · CFO: +11.82013 Q1 · CFO: +8.82013 Q2 · CFO: +10.42013 Q3 · CFO: +13.32013 Q4 · CFO: +12.12014 Q1 · CFO: +6.82014 Q2 · CFO: +9.52014 Q3 · CFO: +8.32014 Q4 · CFO: +1.62015 Q2 · CFO: +2.52016 Q3 · CFO: +9.52016 Q4 · CFO: +16.22017 Q1 · CFO: +7.02017 Q2 · CFO: +5.72017 Q3 · CFO: +6.82017 Q4 · CFO: +5.92018 Q1 · CFO: +6.32018 Q2 · CFO: +9.02018 Q3 · CFO: +12.32018 Q4 · CFO: +3.32019 Q1 · CFO: +2.62019 Q2 · CFO: +15.12019 Q3 · CFO: +8.62019 Q4 · CFO: +9.32020 Q1 · CFO: +0.32020 Q2 · CFO: +4.72020 Q3 · CFO: +13.82020 Q4 · CFO: +16.92021 Q1 · CFO: +7.02021 Q2 · CFO: +12.22021 Q3 · CFO: +5.22021 Q4 · CFO: +12.72022 Q1 · CFO: +8.32022 Q2 · CFO: +6.82022 Q3 · CFO: +4.32022 Q4 · CFO: +11.92023 Q1 · CFO: +12.82023 Q2 · CFO: +10.12023 Q3 · CFO: +18.52023 Q4 · CFO: +13.52024 Q1 · CFO: +19.92024 Q2 · CFO: +9.72024 Q3 · CFO: +13.82024 Q4 · CFO: +13.82025 Q1 · CFO: +13.9
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-41-21+0+21+412010 Q42012 Q42014 Q42016 Q42018 Q42020 Q42022 Q42024 Q42010 Q4 · Prepared remarks: +24.12011 Q1 · Prepared remarks: +22.62011 Q2 · Prepared remarks: +29.02011 Q3 · Prepared remarks: +21.22011 Q4 · Prepared remarks: +25.42012 Q1 · Prepared remarks: +18.32012 Q2 · Prepared remarks: +16.12012 Q3 · Prepared remarks: +15.42012 Q4 · Prepared remarks: +25.22013 Q1 · Prepared remarks: +16.22013 Q2 · Prepared remarks: +20.72013 Q3 · Prepared remarks: +17.32013 Q4 · Prepared remarks: +22.12014 Q1 · Prepared remarks: +20.52014 Q2 · Prepared remarks: +16.42014 Q3 · Prepared remarks: +15.12014 Q4 · Prepared remarks: +14.12015 Q1 · Prepared remarks: +20.22015 Q2 · Prepared remarks: +12.32015 Q3 · Prepared remarks: +16.42015 Q4 · Prepared remarks: +15.82016 Q1 · Prepared remarks: +19.02016 Q2 · Prepared remarks: +12.72016 Q3 · Prepared remarks: +14.62016 Q4 · Prepared remarks: +22.12017 Q1 · Prepared remarks: +8.12017 Q2 · Prepared remarks: +14.62017 Q3 · Prepared remarks: +12.52017 Q4 · Prepared remarks: +14.42018 Q1 · Prepared remarks: +14.82018 Q2 · Prepared remarks: +24.32018 Q3 · Prepared remarks: +19.32018 Q4 · Prepared remarks: +17.02019 Q1 · Prepared remarks: +17.92019 Q2 · Prepared remarks: +18.12019 Q3 · Prepared remarks: +15.92019 Q4 · Prepared remarks: +14.92020 Q1 · Prepared remarks: +6.72020 Q2 · Prepared remarks: +12.12020 Q3 · Prepared remarks: +18.02020 Q4 · Prepared remarks: +18.32021 Q1 · Prepared remarks: +17.42021 Q2 · Prepared remarks: +16.72021 Q3 · Prepared remarks: +17.02021 Q4 · Prepared remarks: +19.92022 Q1 · Prepared remarks: +19.02022 Q2 · Prepared remarks: +17.32022 Q3 · Prepared remarks: +12.82022 Q4 · Prepared remarks: +21.42023 Q1 · Prepared remarks: +18.52023 Q2 · Prepared remarks: +18.62023 Q3 · Prepared remarks: +19.42023 Q4 · Prepared remarks: +20.72024 Q1 · Prepared remarks: +26.12024 Q2 · Prepared remarks: +20.72024 Q3 · Prepared remarks: +22.32024 Q4 · Prepared remarks: +18.42025 Q1 · Prepared remarks: +36.02010 Q4 · Q&A responses: +15.82011 Q1 · Q&A responses: +19.62011 Q2 · Q&A responses: +22.22011 Q3 · Q&A responses: +8.92011 Q4 · Q&A responses: +13.42012 Q1 · Q&A responses: +12.12012 Q2 · Q&A responses: +23.42012 Q3 · Q&A responses: +14.32012 Q4 · Q&A responses: +18.02013 Q1 · Q&A responses: +9.12013 Q2 · Q&A responses: +13.22013 Q3 · Q&A responses: +14.82013 Q4 · Q&A responses: +20.42014 Q1 · Q&A responses: +15.62014 Q2 · Q&A responses: +15.92014 Q3 · Q&A responses: +13.12014 Q4 · Q&A responses: +9.32015 Q1 · Q&A responses: +14.92015 Q2 · Q&A responses: +5.72015 Q3 · Q&A responses: +12.42015 Q4 · Q&A responses: +16.12016 Q1 · Q&A responses: +15.22016 Q2 · Q&A responses: +20.12016 Q3 · Q&A responses: +11.22016 Q4 · Q&A responses: +11.52017 Q1 · Q&A responses: +11.92017 Q2 · Q&A responses: +16.22017 Q3 · Q&A responses: +7.02017 Q4 · Q&A responses: +10.42018 Q1 · Q&A responses: +10.62018 Q2 · Q&A responses: +8.92018 Q3 · Q&A responses: +10.72018 Q4 · Q&A responses: +13.22019 Q1 · Q&A responses: +14.42019 Q2 · Q&A responses: +12.42019 Q3 · Q&A responses: +17.52019 Q4 · Q&A responses: +16.22020 Q1 · Q&A responses: +11.92020 Q2 · Q&A responses: +18.52020 Q3 · Q&A responses: +18.52020 Q4 · Q&A responses: +16.92021 Q1 · Q&A responses: +13.12021 Q2 · Q&A responses: +13.72021 Q3 · Q&A responses: +16.02021 Q4 · Q&A responses: +14.62022 Q1 · Q&A responses: +11.82022 Q2 · Q&A responses: +12.82022 Q3 · Q&A responses: +10.52022 Q4 · Q&A responses: +15.32023 Q1 · Q&A responses: +14.92023 Q2 · Q&A responses: +8.82023 Q3 · Q&A responses: +13.22023 Q4 · Q&A responses: +16.72024 Q1 · Q&A responses: +13.92024 Q2 · Q&A responses: +8.52024 Q3 · Q&A responses: +15.72024 Q4 · Q&A responses: +14.22025 Q1 · Q&A responses: +14.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-1.64$1.33$4.302010 Q42012 Q42014 Q42016 Q42018 Q42020 Q42022 Q42024 Q42014 Q1: $1.952014 Q2: $2.002014 Q3: $2.142014 Q4: $2.052015 Q1: $1.872015 Q2: $1.922015 Q3: $1.932015 Q4: $1.942016 Q1: $1.902016 Q2: $2.062016 Q3: $2.162016 Q4: $2.202017 Q1: $2.242017 Q2: $2.422017 Q3: $2.442017 Q4: $2.242018 Q1: $2.682018 Q2: $3.082018 Q3: $3.102018 Q4: $3.472019 Q1: $3.652019 Q2: $3.832019 Q3: $3.842019 Q4: $3.892020 Q1: $3.802020 Q2: $3.032020 Q3: $3.192020 Q4: $3.132021 Q1: $2.982021 Q2: $3.032021 Q3: $3.072021 Q4: $3.202022 Q1: $2.992022 Q2: $1.022022 Q3: $0.572022 Q4: $0.102023 Q1: $0.162023 Q2: $-0.042023 Q3: $0.022023 Q4: $-0.102024 Q1: $-0.302024 Q2: $-0.292024 Q3: $-1.23

Forward P/E

-39.98287.87615.722010 Q42012 Q42014 Q42016 Q42018 Q42020 Q42022 Q42024 Q42014 Q1: 21.432014 Q2: 19.282014 Q3: 18.692014 Q4: 16.692015 Q1: 16.952015 Q2: 17.412015 Q3: 14.432015 Q4: 14.012016 Q1: 15.012016 Q2: 12.402016 Q3: 11.452016 Q4: 13.042017 Q1: 12.492017 Q2: 10.832017 Q3: 8.712017 Q4: 8.832018 Q1: 8.992018 Q2: 7.912018 Q3: 10.332018 Q4: 7.752019 Q1: 7.372019 Q2: 7.952019 Q3: 7.092019 Q4: 8.322020 Q1: 5.242020 Q2: 7.322020 Q3: 7.622020 Q4: 9.202021 Q1: 24.832021 Q2: 10.052021 Q3: 8.742021 Q4: 7.052022 Q1: 8.582022 Q2: 14.492022 Q3: 22.202022 Q4: 109.802023 Q1: 86.162023 Q2: 75.212023 Q3: 570.502023 Q4: 570.502024 Q1: 124.21

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↓ -2.7 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↑ +4.3 fwd EPS ↓ -0.18 Tone rose while the forward EPS estimate was cut.
  • 2015 Q2 tone ↓ -6.5 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.1 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -4.7 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +5.3 fwd EPS ↓ -0.77 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↑ +6.3 fwd EPS ↓ -0.47 Tone rose while the forward EPS estimate was cut.
  • 2024 Q3 tone ↑ +3.2 fwd EPS ↓ -0.94 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-08+14.9——View →
2024 Q42025-02-27+11.9——View →
2024 Q32024-11-07+15.6$-1.23—View →
2024 Q22024-08-07+12.3$-0.29—View →
2024 Q12024-05-09+12.3$-0.30124.2View →
2023 Q42024-02-23+16.8$-0.10570.5View →
2023 Q32023-11-08+15.6$0.02570.5View →
2023 Q22023-08-03+12.1$-0.0475.2View →