Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Warner Bros Discovery  / Equity Bottom-Up

<ul><li>In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market challenges, reflecting the complex visibility of its transition phase two years post its launch.</li><li>The direct-to-consumer (DTC) segment exhibited robust performance, highlighted by impressive international subscriber growth initiated by the strategic timing of Max's launch in Europe to coincide with the Olympic Games.</li><li>This geographical expansion has fundamentally bolstered Warner Bros. Discovery's position as a formidable player on the global streaming scene, leveraging large-scale live events to drive subscriber engagement and growth.</li></ul>

In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market challenges, reflecting the complex visibility of its transition phase two years post its launch.The direct-to-consumer (DTC) segment exhibited robust performance, highlighted by impressive international subscriber growth initiated by the strategic timing of Max's launch in Europe to coincide with the Olympic Games.This geographical expansion has fundamentally bolstered Warner Bros. Discovery's position as a formidable player on the global streaming scene, leveraging large-scale live events to drive subscriber engagement and growth.

Warner Bros. Discovery Inc.: A Tale Of Robust Content Pipeline & IP Monetization! - Major Drivers

<ul><li>Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry marked by rapid disruption due to technological advancements.</li><li>The company acknowledges the transformative necessities dictated by changing consumer behaviors and the technological landscape.</li><li>On a positive note, Warner Bros. Discovery reported an encouraging increase in subscriber growth for its streaming service, Max, which saw an addition of 2 million subscribers across various regions, pushing its total Direct-to-Consumer (D2C) subscriber count towards 100 million.</li></ul>

Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry marked by rapid disruption due to technological advancements.The company acknowledges the transformative necessities dictated by changing consumer behaviors and the technological landscape.On a positive note, Warner Bros. Discovery reported an encouraging increase in subscriber growth for its streaming service, Max, which saw an addition of 2 million subscribers across various regions, pushing its total Direct-to-Consumer (D2C) subscriber count towards 100 million.

Warner Bros. Discovery Inc.: A Growth Story Around Strategic Partnerships and Global Expansion! - Major Drivers

<ul>
<li>Warner Bros. Discovery's Q1 2024 earnings revealed progress and challenges for the media company.</li>
<li>The company's Direct-to-Consumer streaming service, Max, has been successful, gaining 2 million subscribers this quarter with total subscribers nearing the 100 million mark.</li>
<li>However, the company anticipates that its U.S. subscriber count could decline in Q2 due to seasonal factors, predominantly related to sports broadcasts.</li>
</ul>


Warner Bros. Discovery's Q1 2024 earnings revealed progress and challenges for the media company.
The company's Direct-to-Consumer streaming service, Max, has been successful, gaining 2 million subscribers this quarter with total subscribers nearing the 100 million mark.
However, the company anticipates that its U.S. subscriber count could decline in Q2 due to seasonal factors, predominantly related to sports broadcasts.


Warner Bros. Discovery: Will The Direct-to-Consumer Strategy with No Middlemen Catalyze Growth? - Major Drivers

<ul><li>Warner Bros.</li><li>Discovery is striving to create a pathway to growth in an evolving media industry as reflected in the Q4 Earnings.</li><li>The company had prioritized achieving a well-grounded financial position and reducing its leverage, successfully lowering its debt by $5.4 billion in 2023 and expecting continued deleveraging in 2024.</li></ul>

Warner Bros.Discovery is striving to create a pathway to growth in an evolving media industry as reflected in the Q4 Earnings.The company had prioritized achieving a well-grounded financial position and reducing its leverage, successfully lowering its debt by $5.4 billion in 2023 and expecting continued deleveraging in 2024.

Warner Bros. Discovery Inc.: Enhanced Content Distribution

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points (50-day and 10-day EMAs).</li><li>A close above the resistance at 1,404 points today would signal the initiation of the first significant uptrend of the year, with the next target resistance at 1,416/1,438 points.</li><li>We recommend stocks in the beverage sector that should benefit from the hot season: TACC, HTC, and SAPPE.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points (50-day and 10-day EMAs).A close above the resistance at 1,404 points today would signal the initiation of the first significant uptrend of the year, with the next target resistance at 1,416/1,438 points.We recommend stocks in the beverage sector that should benefit from the hot season: TACC, HTC, and SAPPE.

United States

Warner Bros. Discovery, Inc. operates as a media and entertainment company. The Company offers a complete portfolio of content, brands, and franchises across television, film, streaming, and gaming.

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Warner Bros Discovery (WBD US)

Warner Bros. Discovery Inc.: A Tale Of Robust Content Pipeline & IP Monetization! - Major Drivers

In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market...

Baptista Research

Warner Bros. Discovery Inc.: A Growth Story Around Strategic Partnerships and Global Expansion! - Major Drivers

Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry...

Baptista Research

Warner Bros. Discovery: Will The Direct-to-Consumer Strategy with No Middlemen Catalyze Growth? - Major Drivers

Warner Bros. Discovery's Q1 2024 earnings revealed progress and challenges for the media company. The company's Direct-to-Consumer streaming...

Baptista Research

Warner Bros. Discovery Inc.: Enhanced Content Distribution

Warner Bros. Discovery is striving to create a pathway to growth in an evolving media industry as reflected in the Q4 Earnings. The company had...

Baptista Research

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points...

Krungthai XSpring

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