secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001437107-24-000163
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WBD Q2 net loss $9.99B on $9.1B goodwill impairment; revenue down 5% ex-FX
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- Net loss includes $9.1B non-cash goodwill impairment in Networks segment triggered by market cap decline, linear ad softness, and NBA uncertainty.
- Total revenue $9.7B, down 5% ex-FX; Adjusted EBITDA $1.8B, down 15% ex-FX; free cash flow $976M, down 43%.
- Global DTC subscribers 103.3M, +3.6M QoQ; DTC ARPU $8.00 (+4% ex-FX); DTC EBITDA loss $(107)M.
- Repaid $1.8B of debt in Q2; bought $3.4B debt for $2.6B via tender offer funded by cash and €1.5B notes.
- Net leverage 4.0x; gross debt $41.4B; cash on hand $3.6B; undrawn $6.0B revolver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000163/0001437107-24-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710724000163/disca-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001437107-24-000163

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer