Warner Bros. Discovery plummets more than 7% on Wall Street after disappointing with its second quarter 2024 results, a period in which the company has increased its losses to 9.986 billion dollarscompared to the red figures for the same period of the previous year of 1.24 billion dollars. The company has announced that this figure includes a depreciation of 9.1 billion dollars on their television channels. This translates into a loss per share of 36 cents compared to the 22 cents expected by the market consensus. «While I certainly do not dismiss the magnitude of this deterioration, I think it is equally important to recognize that the other side of the coin reflects the value shift in business models«, said CFO Gunnar Wiedenfels, adding that the company is focusing on the growth of studios and broadcast units. The income have also fallen short of forecasts, standing at $9.713 billion, down 6% than the 10.358 billion obtained between April and June of last year and lower than the 10.070 billion of the analysts. For their part, the television network revenues Warner Bros. Discovery, a portfolio that includes TBS, TNT, Discovery and TLC, fell 8% to $5.27 billion during the second quarter, with distribution and advertising revenues in the segment declining. «It's fair to say that even two years ago, market valuations and prevailing conditions for traditional media companies were quite different than they are today, and This impairment is recognized and better aligns our accounting values with our future prospects.«, said David Zaslav, CEO of the company. Executives also highlighted the Warner Bros. Discovery's ongoing mission to pay off debtmuch of which stems from the 2022 merger. During the second quarter, the company paid down $1.8 billion in debt. As of June 30, it had $41.4 billion in gross debt and $3.6 billion in cash. The company has also focused on Uncertainty surrounding future renewals of sports rightsincluding the NBA. In this regard, it is worth remembering that Warner Bros. Discovery sued the NBA in Julyseeking to forcefully invoke its matchmaking rights on a package of games destined for Amazon Prime Video as part of the league's new media rights deal. But there is a bright spot in the company's books: the streaming businesscentered Max platform, which has added 3.6 million subscribers during the quarter ended June 30, bringing its total number of global streaming customers to 103.3 million. Still, the Direct-to-consumer streaming revenue have decreased by 5% to 2.57 billion dollars; while the streaming advertising revenue are up 99%, driven by increased domestic share on Max and ad-supported subscriber growth. global revenue have grown by 4%, supported by the level of advertisements.