Warner Bros. Discovery Stock Takes a Hit as Q4 Earnings Report Disappoints

Warner Bros. Discovery’s stock dropped 9% after Q4 earnings report revealed progress in Max streaming but weaknesses in ad sales., Warner Bros. Discovery shares plummeted during a conference call with analysts, closing at $8.75 early Friday morning, down from $9.56 on Thursday., CEO David Zaslav remains optimistic about the company’s future despite a 7% revenue decline and 5% adjusted earnings decrease in Q4., Adjusted EBITDA losses were seen in various areas, with the streaming unit experiencing a $55 million loss but improving year-over-year performance., Zaslav highlighted efforts to improve the company’s balance sheet, pay down debt, and focus on driving free cash flow., Warner Bros. Discovery shares are down significantly – 18% year to date and 46% over the past 12 months.