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Warner Bros. Discovery reports $3.4 billion net loss, revenue slips

(Reuters) -Warner Bros. Discovery (NASDAQ:WBD) Inc on Thursday reported a second-quarter net loss of $3.4 billion and a slight decline in revenue, as the newly merged company...
Warner Bros. Discovery reports $3.4 billion net loss, revenue slips © Reuters. FILE PHOTO: David Zaslav arrives for the Time 100 Gala celebrating Time magazine's 100 most influential people people in the world in New York, U.S., June 8, 2022. REUTERS/Caitlin Ochs/File Photo

(Reuters) -Warner Bros. Discovery (NASDAQ:WBD) Inc on Thursday reported a second-quarter net loss of $3.4 billion and a slight decline in revenue, as the newly merged company reconfigures overlapping businesses from WarnerMedia and Discovery.

The company, which reported combined results for the first time, also disclosed 92.1 million streaming video subscribers.

The net loss includes about $2 billion of amortization of intangibles, about $1 billion of restructuring and other charges, and $983 million of transaction and integration expenses, the company said.

Warner Bros Discovery is expected to discuss a new streaming strategy for the merged company during its earnings, Reuters reported L1N2ZE2VJ, citing four sources familiar with the plans.

The move is seen as an attempt to attract more customers as streaming services face a slowdown in subscriber growth and steadily rising frequency of cancellations.

Customers ending their services hover at around 37% in the United States - a rate that could well increase as surging inflation forces a paring of discretionary spending.

Shares of the company, which reported revenue of $9.83 billion, fell 3.6% in extended trading.

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10-08-2022 22:02:14 (UTC+7)

EUR/USD

1.0359

+0.0148 (+1.45%)

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EUR/USD

1.0359

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1.2268

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132.16

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AUD/USD

0.7098

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136.91

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0.9739

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 EUR/USD1.0359↑ Buy
 GBP/USD1.2268↑ Buy
 USD/JPY132.16↑ Sell
 AUD/USD0.7098↑ Buy
 USD/CAD1.2759↑ Sell
 EUR/JPY136.91↑ Sell
 EUR/CHF0.9739↑ Buy
 Gold1,817.25Buy
 Silver20.802↑ Buy
 Copper3.6510↑ Buy
 Crude Oil WTI88.97↑ Buy
 Brent Oil94.82↑ Buy
 Natural Gas8.027↑ Buy
 US Coffee C220.70↑ Sell
 Euro Stoxx 503,751.65↑ Buy
 S&P 5004,205.00↑ Buy
 DAX13,699.81↑ Buy
 FTSE 1007,507.33↑ Buy
 Hang Seng19,610.84↑ Buy
 Small Cap 20001,958.30↑ Buy
 IBEX 358,345.85↑ Buy
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 Adidas173.22↑ Buy
 Lufthansa6.633↑ Buy
 Siemens AG109.37↑ Buy
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Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(-20/ -20) # 1,624
SJC HCM6,600/ 6,700
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SJC Hanoi6,600/ 6,702
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SJC Danang6,600/ 6,702
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SJC Nhatrang6,600/ 6,702
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SJC Cantho6,600/ 6,702
(-20/ -20) # 1,626
Cập nhật 10-08-2022 22:02:16
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Ngoại tệMua vàoBán ra
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KRW15,4618,84
Cập nhật lúc 18:51:10 10/08/2022
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