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Warner Bros. Discovery Stock Price Plummets After Q4 Earnings Report
Warner Bros. Discovery shares fell sharply in pre-market trading Friday following the company's Q4 earnings report.
Discovery sank 9% in pre-market trading Friday following the company’s Q4 earnings report that showed financial progress for the Max streaming service but weakness in key areas including advertising sales. WB Discovery CEO David Zaslav sought to reassure analysts that the long-term outlook for the company remains strong. “We worked really hard to get ourselves a healthy balance sheet, to pay down debt, to get below four times leverage, to really focus on on where we’re on where we’re spending money and on driving free cash flow,” Zaslav said.
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