Warner Bros Discovery reports significant loss with revenue below expectations
Warner Bros. Discovery, a subsidiary of Warner Bros., reported a loss of $2.1 billion for the interval, or 86 cents per share. The company has been struggling with revamping costs and detriment charges restraining from the 2022 merger of Warner Bros. and Discovery, while trying to push its surging business in the right direction. On Thursday, Warner Bros. executives said they expected to continue essentially cutting debt from its balance sheet in the next two years.