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Warner Bros. Discovery Stock Tumbles After Q4 Earnings As Lack Of 2024 Financial Guidance “Challenges Confidence”
Warner Bros. Discovery tumbled after mixed to weak quarterly numbers with commentary that did not include its usual full-year forecast, for 2024.
Discovery share price, already in the dumps, has tumbled another 11% this morning after the company’s latest quarterly numbers showed weak linear advertising and a struggling studio. The stock is scraping $8.50 late morning as the lack of a number “challenges confidence,” said Michael Morris of Guggenheim Partners in a note. WBD brass has been touting turnaround since the merger of Discovery and Warner Media closed two years ago, saddling the combined company with heavy debt.
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