(CNBC) The company’s shares were down roughly 9% in aftermarket trading. Warner Bros. Discovery reported the non-cash goodwill impairment charge, which was triggered by the reevaluation of the book value of the TV networks segment. The book value was higher than the market value as traditional TV networks continue to see customers flee and advertisers are opting to spend on digital and streaming instead.
Warner Bros. Discovery stock falls as it writes down $9.1 billion, misses estimates
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