Warner Brothers Inc. On Tuesday, Discovery lowered its earnings guidance for 2023 by $300 million to $500 million due to the ongoing strike by actors and writers.

CNN’s corporate parent had previously told investors the strike would be over by early September. Now, however, WBD says it cannot predict when the strike will end, and it assumes the effects will last until the end of the year.

A filing made by WBD with the Securities and Exchange Commission early Tuesday said that the company was hopeful that these strikes would be resolved soon.

With the $300 million to $500 million hit to adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), the company expects that key earnings measure to come in at $10.5 billion to $11 billion.

The stock of WBD was up more than 1% in early trading following the filing.

In addition to the money saved due to the lack of film and show production, the strong box office from its hit movie “Barbie” is expected to result in a slightly higher cash flow than previously anticipated. According to Comscore, the film has generated global ticket sales of $1.4 billion through this past weekend, making it the year’s biggest box office movie.

Thousands of writers working for the nation’s top studios and streaming services have been on strike since May 2, according to the Writers Guild of America. On July 14, SAG-AFTRA, which represents about 160,000 actors, joined the writers on strike. After the strikes began, there has been little progress between the two sides.