Warner Bros. Discovery Posts Subscriber Loss and Missed Forecasts Amid Max Launch and Cost Cuts

Warner Bros. Discovery lost 1.8 million streaming subscribers in the second quarter as HBO Max transitioned to the combined Max platform.
The company reported lower-than-expected revenue of $10.36 billion and a loss per share of 51 cents for the quarter.
Warner Bros. Discovery aims to resolve ongoing strikes by writers and actors through fair negotiations by September.
The company continues working to pay down debt, increasing its cost-savings target to over $5 billion within three years of the merger.
Analysts remain divided on Warner Bros. Discovery's growth outlook, with some maintaining optimism while others downgrade the stock.