
Since being spun off from AT&T Inc. (NYSE:T), media company Warner Bros. Discovery (NASDAQ:WBD) has seen shares fall. An earnings report and a new strategy shift are sending shares down further Friday. Here’s what happened and what could be in store for Warner Bros. Discovery.
What Happened: Second quarter revenue of $9.83 billion from Warner Bros. Discovery missed a Street estimate of $11.85 billion, according to data from Benzinga Pro.