Form 8-K · Current Report · Filed 2024-08-07
Warner Bros. Discovery Reports Q2 2024 Financial Results
Warner Bros. Discovery, Inc. reported its Q2 2024 financial results on August 7, 2024. The company reported total revenues of $9.7 billion, a 5% decrease ex-FX compared to the prior year. Net loss available to Warner Bros. Discovery, Inc. was $(10.0) billion, which includes a $9.1 billion non-cash goodwill impairment charge from the Networks segment, as well as $2.1 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses. Adjusted EBITDA was $1.8 billion, a 15% ex-FX decrease compared to the prior year. The company also reported details on segment performance, including the impact of the AT&T SportsNet exit and growth in DTC subscribers.
- Filer
- Warner Bros. Discovery, Inc. WBD · NASDAQ
- Filed
- Accession
- 0001437107-24-000163
- CIK
- 0001437107
- Signal
- High impactCommunication Services
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$7.57
Next session
-7.3%
Since filing
+247.4%
Latest close
$26.30
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from WBD reporting the same item, with the next session's move:
Exhibits (1)
About Warner Bros. Discovery, Inc.
Warner Bros. Discovery, Inc. is a prominent global media and entertainment company known for its extensive portfolio of content and entertainment services. The company's primary function is to create and distribute varied media products, including films, television programming, and digital content. Among its notable features is ownership of Warner Bros. Pictures, a significant player in the film industry, and HBO, a well-regarded cable network known for producing acclaimed original series. Warner Bros. Discovery also operates Discovery Channel, adding to its diverse range of content catering to different audiences. The company impacts multiple sectors, including cinema, television broadcasting, and digital streaming services. Its role in the market is bolstered by an ability to reach a vast audience through a mix of traditional and innovative platforms, as well as its strategic focus on expanding its digital and streaming presence. This makes Warner Bros. Discovery a key entity in shaping the future of entertainment consumption worldwide.
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