Warner Bros. Discovery/$WBD

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About Warner Bros. Discovery

Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. In 2026, it intends to split its global networks business from its streaming and studios businesses, forming two separate companies. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.

Ticker

$WBD
Primary listing

Employees

35,000

WBD Metrics

BasicAdvanced
$46B
59.93
$0.31
1.59
-

What the Analysts think about WBD

Analyst ratings (Buy, Hold, Sell) for Warner Bros. Discovery stock.

Bulls say / Bears say

WBD reported second-quarter 2025 revenue of $9.81 billion versus $9.76 billion expected, driven by 3.4 million international streaming subscriber additions and box office hits like ‘A Minecraft Movie’ and ‘Sinners’. (Reuters)
In May 2025, Warner Bros Discovery revived the HBO branding for its Max streaming service to capitalize on HBO’s premium content cachet, helping lift global subscribers to 122.3 million in Q1 2025 with a target of 150 million by 2026. (Reuters)
The company’s June 2025 announcement to split into separate studios/streaming and cable networks entities by mid-2026 is structured as a tax-free transaction with a $17.5 billion bridge loan to fund tender offers, aiming to enhance strategic focus and unlock shareholder value. (Reuters)
In Q2 2025, WBD’s total revenue of $10.36 billion missed analysts’ estimate of $10.44 billion, while its studios segment delivered $2.58 billion versus the forecasted $3.21 billion, driven by several underperforming theatrical releases, and the company recorded a net loss of $1.24 billion. (Reuters)
Warner Bros Discovery announced plans in July 2025 to lay off roughly 10% of its motion picture group as part of a broader restructuring ahead of its split, potentially disrupting production operations and creative output. (Reuters)
Funding the impending two-company split with a $17.5 billion bridge loan adds to WBD’s already substantial debt burden, raising concerns about refinancing risk amid a higher interest-rate environment. (Reuters)
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 2025.

WBD Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

WBD Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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