The loss includes a $9.1 billion impairment charge tied to the plunging value of its linear networks.
Category: Business
Bumble Shares Drop to All-Time Low After Cut in FY Outlook
Bumble forecasts revenue of $269 million to $275 million, below the $296.4 million expected by analysts.
Zillow Promotes Operating Chief Jeremy Wacksman to Chief Executive Role
Outgoing CEO and co-founder Rich Barton will remain on Zillow’s board as co-executive chair alongside co-founder Lloyd Frink.
NASA Says Starliner Astronauts Could Return With SpaceX—Next Year
Officials confirmed at a briefing that NASA is considering using SpaceX for the return trip. Boeing says its craft is safe for crew.
Disney Posts First-Ever Streaming Profit, Warns of Pressure on Theme-Parks Business
The box-office success of ‘Inside Out 2’ helped the movie studio turn around its fortunes.
Shopify Tops Views in Quarter and Sees Growth Accelerating
Shopify projected better-than-expected sales growth for the current quarter after attracting more merchants and withstanding a shaky consumer spending environment.
Huge Fire Sparked by a Mercedes-Benz EV Adds to Safety Concerns Dogging Industry
A blaze in South Korea prompts debate over whether electric vehicles should be allowed in the country’s ubiquitous underground parking lots.
DBS Names CEO Successor
The Singapore banking heavyweight also raised guidance and reported a quarterly profit beat.
CVS’s Medicare Woes Continue to Fuel More Cuts to Its Outlook
The healthcare company reported higher revenue but much of the sales increase was offset by higher medical costs.
Honda Motor Reports Higher Profit Despite Weak Car Sales in China
The Japanese company maintained its revenue and net profit forecasts for the fiscal year.