Warner Bros. Discovery Stock News

Warner Bros. Discovery (WBD) 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.

24/7 Wall St. Insights Warner Bros. Discovery Inc. (NASDAQ: WBD) stock dropped 10% after its poor quarterly report.

Shares of Warner Bros Discovery plunged 12% in premarket trading on Thursday after a $9.1 billion write-down of the media giant's TV assets sparked fresh concerns about its traditional broadcasting business.

Media conglomerate Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) dropped almost 11% in aftermarket trading in the US after a zinger of a quarterly update, which contained a $9.1 billion writedown of the value of its TV networks. The company, formed by the 2022 merger of Discovery Inc.

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.

Warner Bros. Discovery Inc., the media giant that owns cable channels like CNN and TNT and the streaming platform Max, reported a $10 billion loss during the second quarter — a biproduct of a massive charge it booked as viewers retreat from traditional TV and the company deals with a potential future without National Basketball Association games.

An impairment charge, stemming from a reassessment of the assets' value since the merger of WarnerMedia and Discovery, contributed to a $10 billion net loss for the quarter.

Traditional TV, as you may have heard, is a business in decline. Here's another data point: WBD says its TV assets are worth $9 billion less than it thought just two years ago.