Warner Bros. Discovery Chief Executive Officer David Zaslav needs a win. Soon. Since merging Discovery with WarnerMedia in 2022 and immediately slashing billions in costs, Zaslav has struggled to convince shareholders that his company is a worthy investment. Warner Bros. Discovery shares have fallen about 70% since April 8, 2022, the day the merger closed. His tenure has been defined by implementing thousands of layoffs, cutting movies and TV series for tax efficiencies, killing off CNN+ a month after its l ...

Problems continue to pile up for the entertainment giant. Shares of Warner Bros. Discovery (WBD -7.78%) were plumbing new depths today after the entertainment giant posted another disappointing earnings report in its second quarter. As a result, the stock was down 8.9% at 12:34 p.m. ET. Warner Bros. is still broken Warner Bros. Discovery has been struggling since the business was formed through a merger in 2022. It is burdened with billions of debt and facing headwinds from the decline of linear media. Thos ...

Warner Bros. Discovery (WBD) reported second-quarter 2024 loss of $4.07 per share, significantly wider than the Zacks Consensus Estimate of a loss of 18 cents. The company had incurred a loss of 51 cents in the year-ago quarter. Revenues decreased 6.2% year over year to $9.71 billion, which missed the Zacks Consensus Estimate by 3.5%. Advertising revenues decreased 3.5% year over year to $2.43 billion. Distribution revenues dropped 5% year over year to $4.87 billion. Content revenues declined 13.8% year ove ...

Warner Bros Discovery (NASDAQ:WBD) stock is sliding lower on Thursday after the entertainment company posted its earnings report for the second quarter of 2024. Warner Bros Discovery starts off its earnings report with adjusted EPS of -18 cents. That's worse than Wall Street's estimate of -3 cents per share for the quarter. Adding to that is the company's revenue of $9.71 billion. That's another miss compared to analysts' revenue estimate of $10.07 billion. It's also a 5% decrease year-over-year for the ent ...

Shares of Warner Bros. Discovery fell sharply this morning, touching all time lows well under $7 after disappointing quarterly earnings after market close yesterday that included a massive write-down at its networks division. The stock fell to $6.73, a low. It's trading down more than 12% at $6.76 right now. The company missed most Wall Street forecasts in its numbers yesterday and posted an enormous loss after a $9.1 billion impairment charge to account for slipping advertising and uncertainty around sport ...

KEY TAKEAWAYS Warner Bros. Discovery shares plunged Thursday after the entertainment company recorded an almost $10 billion second-quarter loss, hit by a write-down in the value of its cable networks. The company posted a $9.1 billion non-cash goodwill impairment charge from its cable networks segment, as CNN and TNT, among others, continue to be hit by streaming giants like Netflix. The company posted a wider-than-forecast Q2 loss of $9.99 billion while its revenue of $9.71 billion also trailed analysts' e ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Warner Bros. Discovery's poor second quarter came two years after it was formed by a merger between WarnerMedia and Discovery. Warner Bros. Discovery's share price plunged more than 10 percent after-hours on Wednesday after it reported a quarterly loss of almost $10 billion. Almost all of the loss was down to a $9.1 billion write ...

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants David Zaslav - President, Chief Executive Officer Gunnar Wiedenfels - Chief Financial Officer JB Perrette - CEO, President, Global Streaming and Games Andrew Slabin - Executive Vice President, Global Investor Strategy Conference Call Participants Robert Fishman - MoffettNathanson Michael Ng - Goldman Sachs Benjamin Swinburne - Morgan Stanley Kutgun Maral - Evercore ISI Jessica Reif Eh ...

Warner Bros. Discovery said Wednesday it wrote down the value of its TV assets due to the uncertainty of fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10% in extended trading. The film and entertainment studio, which owns sports network TNT and streaming service Max, recorded a $9.1 billion non-cash goodwill charge in the second quarter. This charge, stemming from a reassessment of the assets' value since the merger of WarnerMedia and Discovery, contri ...

For the quarter ended June 2024, Warner Bros. Discovery (WBD) reported revenue of $9.71 billion, down 6.2% over the same period last year. EPS came in at -$4.07, compared to -$0.51 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $10.07 billion, representing a surprise of -3.50%. The company delivered an EPS surprise of -2161.11%, with the consensus EPS estimate being -$0.18. While investors closely watch year-over-year changes in headline numbers -- revenue and earn ...