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Warner Bros. Discovery Shares Plunge To New Low After Earnings, Write-Down
Share of Warner Bros. Discovery fell sharply to new lows after disappointing earnings with a massive $9.1 billion write-down at networks.
The company missed most Wall Street forecasts in its numbers yesterday and posted an enormous loss after a $9.1 billion impairment charge to account for slipping advertising and uncertainty around sports renewal rights after losing its lucrative NBA package. “Another tough quarter continues to raise questions,” wrote Jessica Reif Erlich in a note to clients this morning. Comments Get our Breaking News Alerts and Keep your inbox happy.
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