Warner Bros. Discovery Stock Drops On Worse-Than-Expected Q2 Results
Portfolio Pulse from Erica Kollmann
Warner Bros. Discovery (NASDAQ:WBD) shares dropped 6.48% after-hours following worse-than-expected Q2 results. The company reported quarterly sales of $9.713 billion, missing the analyst consensus estimate of $10.071 billion, and a GAAP loss of $4.07 per share. Networks and advertising revenues decreased, while content revenue saw a slight increase. DTC subscribers grew by 3.6 million, but DTC revenues decreased by 5%. CEO David Zaslov emphasized the company's focus on its global direct-to-consumer business and future profitability.
August 07, 2024 | 8:28 pm
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Warner Bros. Discovery reported disappointing Q2 results, with sales missing estimates and a significant GAAP loss. Despite growth in DTC subscribers, revenues declined, leading to a 6.48% drop in share price after-hours.
The company's Q2 results were worse than expected, with sales missing analyst estimates and a significant GAAP loss reported. This led to a notable drop in share price after-hours. The decline in networks and advertising revenues, along with a decrease in DTC revenues, overshadowed the growth in DTC subscribers.
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