Warner Bros. Discovery's CEO David Zaslav and CFO Gunnar Wiedenfels discussed the company's strategic plan, challenges in the industry, underperforming movies, and upcoming projects like the Harry Potter television series aiming for a 2026 debut. The company's stock hit an all-time low after missing revenue and earnings estimates, causing investor concerns and a 9% drop in pre-market trading. Zaslav emphasized the importance of free cash flow for the company's growth, while Wiedenfels admitted to underperforming movies at the box office. The company's continued efforts to boost free cash flow may lead to increased scrutiny on marketing and content costs, potentially resulting in more workforce reductions in 2024. Investors are worried about the company's inability to provide guidance and potential lower-than-expected performance.