Warner Bros Discovery: very heavy quarterly loss

(CercleFinance.com) - On Wednesday evening Warner Bros Discovery reported a heavy net loss of almost $10bn due to exceptional charges, mainly a goodwill impairment charge of $9.
1bn in its networks segment. NB pmt -12%.

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 viewpoint, the media and entertainment group (CNN, HBO, Warner Bros, Discovery+...) saw its adjusted EBITDA fall by 16% to just under $1.8bn, on revenues down 6% to around $9.7bn.

Warner Bros Discovery nonetheless highlighted its dynamic 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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