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Los Angeles Times
Los Angeles Times
Business
Ryan Faughnder

Warner Bros. Discovery stock drops after disappointing forecast

Discovery Warner Bros Warner Bros Discovery David Zaslav Doug Creutz Entertainment HBO Max WarnerMedia

Shares of Warner Bros. Discovery sank Friday after the media and entertainment giant reported disappointing earnings and lowered profit projections for the recently combined company.

The New York-based company’s stock fell $2.73, or 16%, to $14.74 a share as Wall Street gave a cool response to the company’s second-quarter results, in the first full earnings report since WarnerMedia assets merged with Discovery Inc. in a $43-billion deal.

A spokesperson for Warner Bros. Discovery declined to comment.

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