Warner Bros. Discovery Earnings Call Reveals Progress On Debt Mountain, But Streaming Subscribers Down

Key takeaways

• Warner Bros. Discovery reported downbeat earnings across the board for the second quarter
• However, the company’s short and long-term work on reducing its $50 million debt has impressed Wall Street
• Warner Bros. Discovery shares were up as high as 3% at the news

Warner Bros. Discovery has made a lot of headlines lately. With rumored layoffs and restructuring its advertising business, the ongoing writers’ and actors’ strike and merging its streaming services, plenty could have rocked the financial boat for the second quarter.

The company suffered losses, but the way it’s handling the substantial debt since the merger last year sent the share price upwards instead of sliding. Let’s look at the gritty details and how Warner Bros. Discovery plans to turn the ship around, despite of the headwinds it faces.