Warner Bros Discovery Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(unaudited; in millions, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Distribution | $4,879 | $5,135 | $9,864 | $10,298 |
| Advertising | 2,430 | 2,519 | 4,578 | 4,817 |
| Content | 2,109 | 2,446 | 4,667 | 5,400 |
| Other | 295 | 258 | 562 | 543 |
| Total revenues | 9,713 | 10,358 | 19,671 | 21,058 |
| Costs and expenses: | ||||
| Costs of revenues, excluding depreciation and amortization | 6,204 | 6,636 | 12,262 | 13,321 |
| Selling, general and administrative | 2,461 | 2,562 | 4,693 | 4,950 |
| Depreciation and amortization | 1,744 | 1,914 | 3,632 | 3,972 |
| Restructuring and other charges | 117 | 146 | 152 | 241 |
| Impairments and loss on dispositions | 9,395 | 6 | 9,407 | 37 |
| Total costs and expenses | 19,921 | 11,264 | 30,146 | 22,521 |
| Operating loss | (10,208) | (906) | (10,475) | (1,463) |
| Interest expense, net | (518) | (574) | (1,033) | (1,145) |
| Gain (loss) on extinguishment of debt | 542 | (5) | 567 | (5) |
| Loss from equity investees, net | (23) | (22) | (71) | (59) |
| Other income (expense), net | 172 | 27 | 158 | (46) |
| Loss before income taxes | (10,035) | (1,480) | (10,854) | (2,718) |
| Income tax benefit (expense) | 7 | 260 | (129) | 438 |
| Net loss | (10,028) | (1,220) | (10,983) | (2,280) |
| Net income attributable to noncontrolling interests | (10) | (16) | (17) | (24) |
| Net loss (income) attributable to redeemable noncontrolling interests | 52 | (4) | 48 | (5) |
| Net loss available to Warner Bros. Discovery, Inc. | $(9,986) | $(1,240) | $(10,952) | $(2,309) |
| Net loss per share available to Warner Bros. Discovery, Inc. Series A common stockholders: | ||||
| Basic | $(4.07) | $(0.51) | $(4.48) | $(0.95) |
| Diluted | $(4.07) | $(0.51) | $(4.48) | $(0.95) |
| Weighted average shares outstanding: | ||||
| Basic | 2,451 | 2,437 | 2,447 | 2,434 |
| Diluted | 2,451 | 2,437 | 2,447 | 2,434 |
| The accompanying notes are an integral part of these consolidated financial statements. | ||||
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