Warner Bros. Discovery Quarterly Earnings Loss
Warner Bros. Discovery reported an $11.2 billion loss in the second quarter due to an impairment charge related to its TV networks unit and merger costs. The decline is attributed to the shift from cable and satellite TV to streaming services, impacting ad revenue and stock prices.
Key Points
- $11.2 billion loss in Q2 earnings
- Impairment charge due to TV networks unit and merger costs
- Shift from cable and satellite TV to streaming impacting revenue
- Soft ad market and uncertainty affecting planning assumptions