Warner Bros. Discovery () shares rose as the entertainment giant’s update on its free cash flow and debt payments helped offset concerns about a negative impact to iꦫts🃏 earnings from Hollywood strikes.

Warner Bros. Discovery raised its 2023 澳洲幸运5官方开奖结果体彩网:free cash flow guidance to at least $5 billion, and expects it to exceed $1.7 billion in the current quarter because of the success of its blockbuster Barbie movie. 

The company also maintained its guidance of reaching net leverage below four times by the end of the year, as well a𓆉s its target gross leverage range of two and a half times to three times by the e🐻nd of 2024. 

However, Warner Bros. Discovery also warned in a regulatory filing that the ongoing strikes by the Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) would cut full-year earnings before interest, taxes, depreciation and amortizati❀on (EBITℱDA) by $300 million to $500 million, lowering its EBITDA outlook to a range of $10.5 billion to $11 billion. The company’s previous estimates assumed the walkouts wouldꦦ end in early September.

The company said it was not sure when the strikes would e💙nd but was hopeful it would be soon.

Shares of Warner Bros. Discovery have added about a quarter of their value this year.