Warner Bros Discovery reported a Q2 2024 net loss of $10 billion, primarily due to a $9.1 billion non-cash goodwill impairment charge in its Networks segment. The impairment was triggered by market capitalization concerns, U.S. linear advertising softness, and uncertainty around affiliate and sports rights renewals. Revenue declined 5% year-over-year to $9.7 billion.The company's DTC segment showed positive momentum with 3.6 million net subscriber additions, reaching 103.3 million total subscribers. Global DTC ARPU increased 4% to $8.00. The successful launch of Max continued across Europe, including new markets in France and Belgium, now available in 65 countries.WBD maintained strong liquidity with $3.6 billion cash on hand and repaid $1.8 billion of debt during Q2. The company purchased $3.4 billion of debt for $2.6 billion through a tender offer funded by cash and a €1.5 billion senior notes offering. Net leverage ratio stood at 4.0x.

Warner Bros Discovery reported a Q2 2024 net loss of $10 billion, primarily due to a $9.1 billion non-cash goodwill impairment charge in its Networks segment. The impairment was triggered by market capitalization concerns, U.S. linear advertising softness, and uncertainty around affiliate and sports rights renewals. Revenue declined 5% year-over-year to $9.7 billion.The company's DTC segment showed positive momentum with 3.6 million net subscriber additions, reaching 103.3 million total subscribers. Global DTC ARPU increased 4% to $8.00. The successful launch of Max continued across Europe, including new markets in France and Belgium, now available in 65 countries.WBD maintained strong liquidity with $3.6 billion cash on hand and repaid $1.8 billion of debt during Q2. The company purchased $3.4 billion of debt for $2.6 billion through a tender offer funded by cash and a €1.5 billion senior notes offering. Net leverage ratio stood at 4.0x.