Warner Bros. Discovery shares fall to record lows on Q2 costs – Knowligent
Warner Bros. Discovery shares fall to record lows on Q2 costs

Warner Bros. Discovery shares fall to record lows on Q2 costs

HomeNewsWarner Bros. Discovery shares fall to record lows on Q2 costs

UPDATED: Shares of Warner Bros. Discovery fell more than 12% to an all-time low on Thursday morning after the media conglomerate, which relies heavily on its pay-TV business, announced a massive $9.1 billion writedown, reflecting the loss in value of its linear television networks.

Warner Bros. Discovery Q2 results include $9.1 billion charge

WBD shares fell to $6.73 per share (-12.7%) on Thursday, following the company’s second-quarter 2024 earnings report after the market closed. The stock closed at $7.02 per share on Aug. 8, down 9%.

The stock's lowest closing price was on June 18, 2024, when it closed the day at $6.99 per share; its intraday low over the past 52 weeks was previously $6.94 (on June 20). So far this year, shares of Warner Bros. Discovery are down 40%.

The share price drop wiped more than $1.6 billion off its market value, with Warner Bros. Discovery’s market cap standing at about $17.2 billion at the close of trading on Thursday. That’s compared to more than $50 billion after Discovery completed its acquisition of WarnerMedia in April 2022.