Clearpost.online It's your post, so post it!

(Reuters) -Warner Bros. Discovery Inc on Thursday reported a second-quarter net loss of $3.4 billion and a slight decline in revenue, as the newly merged co*pany reconfigures overlapping businesses from WarnerMedia and Discovery.

The co*pany, which reported co*bined results for the first time, also disclosed 92.1 million streaming video subscribers.

The net loss includes about $2 billion of amortization of intangibles, about $1 billion of restructuring and other charges, and $983 million of transaction and integration expenses, the co*pany said.   

Warner Bros Discovery is expected to discuss a new streaming strategy for the merged co*pany during its earnings, Reuters reported L1N2ZE2VJ, citing four sources familiar with the plans.

The move is seen as an attempt to attract more customers as streaming services face a slowdown in subscriber growth and steadily rising frequency of cancellations.

Customers ending their services hover at around 37% in the United States – a rate that could well increase as surging inflation forces a paring of discretionary spending.  

Shares of the co*pany, which reported revenue of $9.83 billion, fell 3.6% in extended trading.

(Reporting by Dawn Chmielewski in Los Angeles and Chavi Mehta in Bengaluru; Editing by Sriraj Kalluvila)