{"id":481216,"date":"2022-08-05T00:03:58","date_gmt":"2022-08-04T21:03:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/warnerbros-discovery-misses-on-earnings-shares-plunge\/"},"modified":"2022-08-05T00:03:58","modified_gmt":"2022-08-04T21:03:58","slug":"warnerbros-discovery-misses-on-earnings-shares-plunge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/warnerbros-discovery-misses-on-earnings-shares-plunge\/","title":{"rendered":"#WarnerBros. Discovery misses on earnings, shares plunge"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e218b44ca9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e218b44ca9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/warnerbros-discovery-misses-on-earnings-shares-plunge\/#%E2%80%9CWarnerBros_Discovery_misses_on_earnings_shares_plunge%E2%80%9D\" >&#8220;WarnerBros. Discovery misses on earnings, shares plunge&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWarnerBros_Discovery_misses_on_earnings_shares_plunge%E2%80%9D\"><\/span>&#8220;WarnerBros. Discovery misses on earnings, shares plunge&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>WarnerBros. Discovery posted weaker-than-expected second quarter earnings Thursday and announced the merger of its two most popular streaming services would be completed by next summer.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> behemoth reported its earnings for the first time since merging to combine the properties of Discovery and WarnerMedia \u2014 which include HBO, CNN, Warner Bros., HGTV and TLC.<\/p>\n<p>Shares tumbled nearly nearly 10% in after-hours trading. <\/p>\n<p>WBD CEO David Zaslav has come under fire for his cost-cutting decision since the merger \u2014 including scr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing the already-completed \u201cBatgirl\u201d movie.<\/p>\n<p>He announced that more layoffs will be coming and said HBO Max and Discovery+ will be merged next summer.<\/p>\n<p>\u201cWe\u2019ve had a busy, productive four months since launching Warner Bros. Discovery, and have more conviction than ever in the massive opportunity ahead,\u201d Zaslav said. \u201cWe\u2019re confident we\u2019re on the right path to meet our strategic goals and really excel, both creatively and financially, and couldn\u2019t be more excited about the future of our company.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"588\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/discovery-plus.jpg?w=1024\" alt=\"screen shot of discovery+ shows\" class=\"wp-image-23336565\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/discovery-plus.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/discovery-plus.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/discovery-plus.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Zaslav said the company will merge streaming services Discovery+ and HBO Max.<\/figcaption><\/figure>\n<p>During the quarter, the media giant posted a net loss of $3.42 billion, or a loss of $1.50 a share. The loss included over $2 billion in amortization of intangibles as well as $1 billion in restructuring and other charges, as well as nearly $1 billion in transaction\/integration costs.<\/p>\n<p>Revenues totaled $9.83 billion. Wall Street expected a net loss of 3 cents on revenue of $11.84 billion.<\/p>\n<p>The company said its streaming subscriber base, which includes both Discovery+ and HBO Max, totals 92.1 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"525\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/hbo-max.jpg?w=1024\" alt=\"Screen shot of HBO Max's app\" class=\"wp-image-23336606\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/hbo-max.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/hbo-max.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/hbo-max.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>HBO Max combined with Discovery+ nabbed 92.1 million subscribers in the second quarter.<\/figcaption><\/figure>\n<p>WarnerMedia had reported 76.8 million subscribers to HBO or HBO Max last quarter, with Discovery reporting 24 million subscribers, suggesting that the total number of subscribers fell from the first quarter.<\/p>\n<p>Earlier this week, media types buzzed that Zaslav would soon roll out details that would help the company shore up $3 billion in 2023. <\/p>\n<p>Investors got a glimpse at Zaslav\u2019s plan on Tuesday when the media giant announced it would shelve its straight-to-streaming DC flick \u201cBatgirl,\u201d starring \u201cIn The Heights\u201d star Leslie Grace, as well as \u201cScoob!: Holiday Haunt.\u201d Cutting both films would save WBD a fortune in marketing costs and any back-end payouts.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"1019\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/batgirl-01.jpeg?w=1024\" alt=\"Still of leslie grace as bat girl\" class=\"wp-image-23336645\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/batgirl-01.jpeg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/batgirl-01.jpeg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/batgirl-01.jpeg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Leslie Grace\u2019s \u201cBatgirl\u201d got shelved, causing a stir among media critics. <\/figcaption><figcaption><span class=\"credit\">Twitter\/Leslie Grace<\/span><\/figcaption><\/figure>\n<p>There have also been rampant rumors that there would be some fallout from the merger of the firm\u2019s two biggest streaming services, HBO Max and Discovery+. On Wednesday, Hollywood trade The Wrap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thewrap.com\/hbo-max-layoffs-warner-bros-discovery-q2-earnings-preview\/\">reported<\/a> that the company plans to lay off 70% of its development business.<\/p>\n<p>Since the $43 billion merger of Discovery and WarnerMedia closed, life has been different at the newly-formed WBD. Zaslav\u2019s no-nonsense, budget-focused leadership has translated to more than a few rip-the-bandaid-off decisions. Shortly after the deal closed, the CEO shuttered CNN\u2019s month-old $300 million streaming service CNN+.<\/p>\n<p>\u201cWe will clearly take swift and decisive actions on certain items, as you saw on CNN+ last week,\u201d Zaslav told investors on an earnings call in April, vowing to not \u201coverspend.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"722\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?w=722\" alt=\"chris licht\" class=\"wp-image-23336704\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?quality=75&amp;strip=all&amp;w=1444 1444w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?quality=75&amp;strip=all&amp;w=1083 1083w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?quality=75&amp;strip=all&amp;w=722 722w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?quality=75&amp;strip=all&amp;w=361 361w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/licht-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 722px) 100vw, 722px\"\/><figcaption>CNN boss Chris Licht has been tasked with pumping up revenue and ratings.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Zaslav soon brought in Chris Licht, a former executive producer on \u201cThe Late Show with Stephen Colbert,\u201d to replace former CNN chief executive Jeff Zucker, who resigned. Top brass is focused on building up CNN\u2019s flailing ratings while reorienting from opinion-based reporting back to fact-based journalism.<\/p>\n<p>Licht is currently scrambling to shore up costs and buffer ratings while looking for ways to drum up new revenue streams as the network\u2019s profits are reportedly poised to drop below the $1 billion mark for the first time since 2016.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/08\/04\/warnerbros-discovery-misses-on-q2-earnings-amid-restructuring-speculation\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;WarnerBros. Discovery misses on earnings, shares plunge&#8221; WarnerBros. Discovery posted weaker-than-expected second quarter earnings Thursday and announced the merger of its two most popular streaming services would be completed by next summer. The media behemoth reported its earnings for the first time since merging to combine the properties of Discovery and WarnerMedia \u2014 which include&#8230;<\/p>\n","protected":false},"author":1,"featured_media":481217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/zaslav-hbo-plus-earnings-99.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[132028,70237,87539,76511,640,1372,108028],"class_list":["post-481216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-4-22","tag-corporate-earnings","tag-david-zaslav","tag-discovery","tag-hbo-max","tag-streaming","tag-warner-bros-discovery"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=481216"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/481217"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=481216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=481216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=481216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}