Reported 2 months ago
Warner Bros. Discovery reported disappointing earnings for Q2 2024, with a staggering $9.1 billion impairment charge linked to its cable business, pushing total write-downs to $11.2 billion. The company missed revenue expectations with $9.7 billion and posted an adjusted loss per share significantly greater than forecasts. The streaming segment added subscribers, but overall performance has raised concerns, especially after losing key media rights to the NBA, leading to a negative stock reaction and uncertainty about future growth.
Source: YAHOO