Nolte: Warner Bros. Discovery Stock Takes Hit After $11.2 Billion Loss

Warner Bros. Discovery announced its quarterly earnings — well, losses — to the tune of a $11.2 billion, with a “B,” loss: Warner Bros. Discovery (WBD) reported second-quarter earnings after the bell on Wednesday that missed expectations on both the top and bottom lines while the company took a massive $9.1 billion impairment charge related to its TV networks unit. Including an additional $2.1 billion in costs related to its merger, the company took an $11.2 billion hit last quarter. “It’s fair to say that even two years ago, market...