Reported 2 months ago
Warner Bros. Discovery reported disappointing second quarter earnings, missing revenue expectations and incurring a substantial $9.1 billion impairment charge relating to its TV networks. Despite gaining nearly 4 million subscribers for its streaming service Max and an increase in streaming ad revenue, the company struggled with a decline in linear TV advertising and lost a key media rights deal with the NBA to competitors, raising concerns over its future profitability.
Source: YAHOO