Warner Bros Discovery Inc (WBD)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-3,910,000	-5,852,000	-8,184,000	-10,938,000	-9,034,000	-6,341,000	-3,275,000	1,653,000	1,242,000	1,481,000	1,578,000	1,331,000	1,592,000	1,751,000	1,871,000	2,120,000	2,150,000	2,086,000	1,837,000	1,500,000
Revenue (ttm)	US$ in thousands	38,893,000	43,065,000	42,909,000	42,378,000	34,837,000	26,592,000	19,919,000	13,154,000	12,787,000	12,193,000	11,604,000	11,083,000	10,974,000	10,659,000	10,776,000	11,120,000	11,144,000	11,079,000	10,993,000	10,953,000
Pretax margin		-10.05%	-13.59%	-19.07%	-25.81%	-25.93%	-23.85%	-16.44%	12.57%	9.71%	12.15%	13.60%	12.01%	14.51%	16.43%	17.36%	19.06%	19.29%	18.83%	16.71%	13.69%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-3,910,000K ÷ $38,893,000K
= -10.05%

Warner Bros. Discovery Inc's pretax margin has shown fluctuating trends over the past eight quarters. The pretax margin was negative in all quarters except Q1 2022, where it was positive at 14.43%. The margin reached its lowest point in Q1 2023 at -26.29% and the second lowest in Q4 2022 at -26.50%. The company experienced slight improvements in the pretax margin in Q2 and Q3 2023 compared to the previous quarters, indicating some progress in managing costs or increasing revenues. However, the margins are still negative, suggesting that the company is facing challenges in generating profits before taxes. Further analysis of the company's cost structure, revenue streams, and overall financial performance may be necessary to understand the factors driving these fluctuations.