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 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 ...

Warner Bros. Discovery (WBD) came out with a quarterly loss of $4.07 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.51 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2,161.11%. A quarter ago, it was expected that this operator of cable TV channels such as TLC and Animal Planet would post a loss of $0.24 per share when it actually produced a loss of $0.40, delivering a surprise ...

Core Viewpoint - Warner Bros. Discovery (WBD) is facing significant challenges following a $9 billion accounting writedown, indicating that its aging TV assets are overvalued, which has led to a decline in stock price by over 8% [2][3] Company Challenges - The merger between Discovery and the former Time Warner has been deemed unsuccessful, prompting discussions about breaking up the company [1] - WBD's CEO, David Zaslav, acknowledges the long-term decline of traditional TV networks like TNT, TBS, and TLC, which still generate profits but complicate strategic decisions [4] - The company has abandoned its initial breakup plan and is now considering selling smaller segments of the business, such as parts of its games business or a Polish broadcasting company [4] Market Reaction - The market has already reflected the company's struggles in its stock price, which has been in decline for over two years [3] - The recent accounting hit and the acknowledgment of asset devaluation have made WBD more attractive to potential buyers, as the company may be seen as more affordable [5]

In this article Warner Bros. Discovery's stock dropped on Wednesday after it reported a $9.1 billion write down on its TV networks and missed analyst estimates on revenue. Here is how Warner Bros. Discovery performed: Loss per share: $4.07. That may not compare with the 22 cent loss expected by analysts surveyed by LSEG Revenue: $9.07 billion vs. $10.071 billion expected The company's shares were down roughly 7% in aftermarket trading. This is breaking news. Please check back for updates. ...

Streaming Service Consolidation - Warner Bros Discovery is shutting down the Boomerang streaming service and moving its programming, including classic cartoon series, to Max by September 30 [1] - This follows a similar strategic shift by Paramount Global, which closed Noggin and moved its content to Paramount+ [1] - Boomerang, launched as a cable network in 2000 and became a streaming service in 2017, expanded into original programming in recent years [2] - Subscriber numbers for Boomerang were never disclosed, but it was a niche offering priced at $6/month, significantly cheaper than Max's ad-free tier at $17/month [2] Content Transition to Max - Boomerang subscribers will have their plans converted to the ad-free version of Max at no extra charge [2] - Max will host Boomerang fan-favorites like Scooby Doo, Bugs Bunny, and Tom & Jerry, along with Max's full catalog of iconic series, hit movies, fresh originals, and family favorites [3] - Some Boomerang content may not be available on Max, but no further details were provided about what will survive the transition [3] Industry Trend of Streamlining - The move reflects a broader industry trend of consolidating niche services around primary flagship platforms [4] - WarnerMedia, before merging with Discovery in 2022, had previously streamlined its streaming offerings by shutting down standalone services like FilmStruck and DC Universe [4]

The upcoming report from Warner Bros. Discovery (WBD) is expected to reveal quarterly loss of $0.18 per share, indicating an increase of 64.7% compared to the year-ago period. Analysts forecast revenues of $10.07 billion, representing a decrease of 2.8% year over year. The current level reflects a downward revision of 66.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over th ...