Boss of HBO, Warner Bros. is more bullish on financials than Wall Street
Each quarter, Time Warner Inc. boss Jeff Bewkes shoots a short video for his employees, explaining the company’s financial results and future outlook. This time, TheWrap obtained the video, which we’re happily sharing with you.
There’s no big breaking news in the four-and-a-half minute production: It’s just the head honcho talking highlights and promising good things to come in 2016. Bewkes said he expects a record year for Warner Bros. at the box office, optimism also reflected in the company’s fourth-quarter 2015 investor call.
Basically, the video is a pat on the back — a little cheerleading to promote a healthy corporate culture. And like any corporate cheerleading, it contains some spin.
In its Q4 and full-year financials early this morning, the company reported worse-than-expected quarterly revenue, but got a pleasant surprise out of earnings per share. The past week has been very rough for TWX stock, which hit a nice peak in July 2015 before heading downward.
During this morning’s investor event, HBO CEO Richard Plepler revealed that standalone SVOD service HBO Now has “about” 800,000 paying subscribers – a total lower than Wall Street had expected. The service has been around for eight months.
Watch the Bewkes video above.