Warner Bros. Discovery stock rises for second straight working day as business pays down personal debt

Warner Bros. Discovery stock rises for second straight working day as business pays down personal debt


Pavlo Gonchar | Lightrocket | Getty Visuals

Warner Bros. Discovery saw its stock rise for a next straight working day Thursday, immediately after asserting it experienced compensated down a portion of its debt load this 7 days.

The monetary update, announced Wednesday, had been overshadowed by the turmoil at its news outlet CNN, where by CEO Chris Licht was ousted. Shares rose 6% Thursday soon after closing much more than 8% increased Wednesday. The inventory is up 49% so considerably this calendar year.

similar investing information

JPMorgan hikes Netflix price target, says password-sharing crackdown can drive revenue growth

CNBC Pro

The media huge has been contending with a significant credit card debt load stemming from the 2022 merger of Warner Bros. and Discovery. The firm, which finished the first quarter with $49.5 billion in personal debt, has been in the midst of a variety of value-slicing initiatives these as and layoffs and material expending reductions.

Inventory Chart IconInventory chart icon

hide content

Warner Bros. Discovery’s inventory rose in new times immediately after the organization introduced it was spending down some of its significant financial debt load.

In a general public submitting, Warner Bros. Discovery claimed it experienced repaid about $1.5 billion in debt on two of its financial loans. The company also announced it commenced a $500 million income tender supply.

That resulted in $2.05 billion in 2nd quarter credit card debt reduction, about $1 billion a lot more than Wells Fargo experienced forecast, in accordance to Steven Cahall, an analyst at the financial institution.

The analyst pointed out that Warner Bros. Discovery guided that it would have roughly $930 million in 2nd quarter cost-free income stream, after ending the first quarter with $2.6 billion in cash.

“We acquire the personal debt reduction to reveal management self esteem in 2023 money technology and deleveraging,” Cahall wrote.

Warner Bros. Discovery has also been doing the job to make its streaming business enterprise profitable. CEO David Zaslav lately explained on a business earnings contact that the streaming organization is envisioned to reach profitability in the U.S. in 2023, a calendar year forward of its expectations. The corporation just lately relaunched and rebranded its flagship streaming support as Max, combining written content from HBO and its portfolio of cable-Tv networks like the Discovery Channel and TLC.

For the duration of the initial quarter Warner Bros. Discovery experienced described $10.7 billion in earnings, as very well as a net reduction of $1.1 billion.



Source

China’s ‘instant commerce’ price war sees alt=
Technology

China’s ‘instant commerce’ price war sees $0.30 drinks and billions in subsidies doled out

A Meituan food delivery courier rides an electric scooter in Chongqing, China, on March 29, 2025. Cheng Xin | Getty Images News | Getty Images In China’s fiercely competitive market, the latest price war is playing out in the growing “instant commerce” sector, where companies are launching massive subsidies and other incentives to get consumers […]

Read More
Grok 4 appears to seek Elon Musk’s views when answering controversial questions
Technology

Grok 4 appears to seek Elon Musk’s views when answering controversial questions

The X logo on a phone. Nurphoto | Nurphoto | Getty Images When xAI’s Grok 4 chatbot was launched on Wednesday, users and media outlets quickly began pointing out examples of it consulting its owner Elon Musk’s views on controversial matters.  CNBC was able to confirm that when asked to take a stance on some […]

Read More
Linda Yaccarino briefly loses verified X checkmark after stepping down as CEO
Technology

Linda Yaccarino briefly loses verified X checkmark after stepping down as CEO

X Corp’s CEO Linda Yaccarino looks on during the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, U.S., January 31, 2024.  Nathan Howard | Reuters Ex-X CEO Linda Yaccarino is still @lindayaX on the social media site, but she briefly lost the blue checkmark next to her account […]

Read More