Reported 2 months ago
Warner Bros. Discovery's stock plummeted by 12% following a disappointing second quarter that included a massive $9.1 billion impairment charge tied to a lost NBA media rights deal. Despite adding 3.6 million subscribers to its streaming service, the company's total revenue dropped to $9.7 billion, missing expectations, while losses deepened relative to last year. Analysts believe that while the situation is dire, there may still be potential for recovery in the future.
Source: YAHOO