Reported 2 months ago
Warner Bros. Discovery (WBD) shares have sharply dropped in after-hours trading following a $9.1 billion impairment charge related to its linear networks. This charge was attributed to the disparity between market capitalization and book value, a weakening U.S. advertising market, and uncertainties over rights renewals. The company reported a significant loss of $4.07 per share for the second quarter, with revenues of $9.7 billion falling short of expectations.
Source: YAHOO