Daniel Loeb's Third Point disclosed a new position of 20 million Warner Bros. Discovery (WBD) shares worth $533 million in Q2 2026, making it his largest new disclosed position.
The investment firm funded this new position by exiting its holdings in Nvidia and Broadcom. Warner Bros. Discovery's Q2 2026 revenue of $8.72 billion missed estimates, but GAAP EPS of $0.06 beat the consensus, and operating income jumped 228.11% year over year. The company's streaming revenue surpassed $3 billion for the first time, with adjusted EBITDA up 63% ex-FX.
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