Warner Bros. Discovery's $9.1B Impairment Reflects 'State Of The Industry': CFO
Portfolio Pulse from Michael Juliano
Warner Bros. Discovery Inc. (NASDAQ:WBD) reported a $9.1 billion writedown of its TV networks, reflecting the industry's shift from traditional TV to online streaming. The company posted a net loss of $10 billion for Q2, up from $1.22 billion last year. Despite the writedown, Warner Bros. Discovery's Direct-To-Consumer segment saw a subscriber increase and a significant rise in advertising revenue.
August 08, 2024 | 9:00 pm
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Warner Bros. Discovery reported a $9.1 billion writedown due to the shift from traditional TV to streaming, resulting in a $10 billion net loss for Q2. However, the Direct-To-Consumer segment showed growth in subscribers and ad revenue.
The $9.1 billion writedown and $10 billion net loss are significant negative factors, likely to impact WBD's stock price negatively in the short term. However, growth in the Direct-To-Consumer segment and ad revenue provides some positive outlook.
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IMPORTANCE 90
RELEVANCE 100