# Skydance Shares Drop 8.7% as Warner Deal Leaves $87 Billion in Debt By John Kim Canonical URL: https://www.tokenpost.com/news/business/54251 Published: 2026-11-11T17:09:59.000Z Updated: 2026-11-11T17:09:59.000Z Section: Business > Adjusted earnings reached 45 cents per share as revenue rose 5% to $7.03 billion. Skydance warned its fourth-quarter film slate could cut profit by up to $200 million. Skydance Corporation (SKYD) shares fell 8.7% to $7.94 Tuesday, Nov. 10, erasing the previous session’s 8.6% gain, as earnings highlighted the debt load following its Warner Bros. Discovery acquisition. Adjusted earnings were 45 cents per share. Revenue rose 5% from a year earlier to $7.03 billion, just below the $7.04 billion estimate. The quarter ended Sept. 30, before the acquisition closed Oct. 6, so the results did not include Warner Bros. Discovery. After the deal, Skydance had $87 billion in gross debt and about $10 billion in cash. The company warned that Warner Bros.’ fourth-quarter film slate could reduce fourth-quarter profit by up to $200 million compared with earlier expectations. Skydance is targeting more than $6 billion in yearly savings within three years and aims for $10 billion in positive cash flow by 2030. Those targets and the debt burden echo [J.P. Morgan’s earlier assessment of Skydance’s leverage risks](). Skydance expects cash outflows to exceed inflows in 2026. It did not provide full fourth-quarter guidance and said it would issue full-year outlooks going forward. ## Links in this article - [J.P. Morgan’s earlier assessment of Skydance’s leverage risks](https://www.tokenpost.com/news/business/39808)