Warner Bros. Discovery Stock Sinks 9% As Earnings Show Streaming Progress Amid Ad Sales Weakness
• Warner Bros. Discovery stock sank 9% on Friday morning following Q4 earnings report • Report showed progress for HBO Max streaming but weakness in advertising sales • CEO Zaslav sought to reassure analysts that long-term outlook still strong • Revenue down 7% and adjusted earnings down 5% partly due to production delays • Zaslav Company now "healthy" after paying down debt and reducing spending