) 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 on its balance sheet last quarter.
Free cash flow, which served as a bright spot in the first quarter, bucked that trend this time around. The metric dropped 43% year over year to $976 million and also missed Bloomberg consensus expectations of $1.2 billion.The company's direct-to-consumer streaming business served as a bright spot in the quarter. It added 3.6 million Max subscribers amid the debut of "House of the Dragon" season 2. This was ahead of Bloomberg consensus expectations of 1.
That pressured second quarter EBITDA with full-year adjusted EBITDA now at risk of falling below $10 billion, according to the latest Bloomberg estimates. That's $4 billion below what analysts had expectedWarner Bros.
Nelson is among hundreds of evacuees now joining a series of grim processions through the community, tours offering residents the chance to view the devastation firsthand.The parents of a Kentucky baby who died last fall after drinking bacteria-tainted infant formula are the latest to sue Abbott Nutrition, the manufacturer at the heart of a 2022 crisis that left millions of Americans scrambling to feed their children.