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 ...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Thanks for signing up! Go to newsletter preferences Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Last month executives at Warner Bros. Discovery floa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34177 | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------|--------- ...

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. ...

Q2 2024 Earnings Press Release | August 7, 2024 Warner Bros. Discovery, Inc. Reports Second Quarter 2024 Earnings Results At Warner Bros. Discovery, our top priority is our global direct-to-consumer business and we are extremely pleased with the growing momentum we are seeing, as demonstrated by another strong quarter of growth with 3.6 million net adds, fueled by our ongoing international expansion and investment in high quality, diverse content. In light of industry headwinds, we have and will continue ta ...

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 ...

Warner Bros. Discovery (WBD) closed the most recent trading day at $8.65, moving -1.48% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 2.64%. The operator of cable TV channels such as TLC and Animal Planet's stock has climbed by 21.94% in the past month, exceeding the Consumer Discretionary sector's loss of 0.08% and the S&P 500's loss of 0.44%. The investment commun ...