Warner Bros Discovery: very heavy quarterly loss

(CercleFinance.com) - Warner Bros Discovery reported on Wednesday evening a heavy net loss of almost $10 billion due to exceptional charges, mainly a goodwill impairment charge of $9.
1 billion in its networks segment.

It explains this impairment by 'the difference between market capitalization and book value, continued weakness in the US linear advertising market, and uncertainty over sports rights renewals, including the NBA'.

From an operational point of view, the media and entertainment group (CNN, HBO, Warner Bros, Discovery+...) saw its adjusted EBITDA fall by 16% to just under 1.8 billion dollars, on revenues down 6% to around 9.7 billion.

Warner Bros Discovery nonetheless highlighted the dynamism of its direct-to-consumer segment, with a net gain of 3.6 million subscribers over the past quarter compared to the previous one, accompanied by a 4% increase in ARPU excluding currency effects.

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