The financials
Warner Bros. Discovery by the numbers
Warner Bros. Discovery (WBD) reported revenue of $8.72B in Q2 2026 (quarter ended Jun 30, 2026), down 11% from the same quarter a year earlier. That came with a gross margin of 47% and net income of $149M (1.7% of revenue). For the full year FY2025, revenue was $37.3B (−5.1% year on year) and net income $727M. Its largest segment in Q2 2026 was Streaming at $2.69B, 54% of the disclosed total, ahead of Global Linear Networks at 46%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $8.72B | $9.81B | −11% |
| Gross profit | $4.10B | $3.85B | +6.5% |
| Operating income | $237M | −$185M | to a profit |
| Net income | $149M | $1.58B | −91% |
| Diluted EPS | $0.06 | $0.63 | −90% |
| Operating | Revenue | Share |
|---|---|---|
| Streaming | $2.69B | 54% |
| Global Linear Networks | $2.27B | 46% |
| Studios | $4.0M | 0.1% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q2 2026Total $4.96B (+1.0%)
Studios grew +300% year on yearGlobal Linear Networks -8.6% year on year
Segment Latestquarter on quarteryear on year
- Streaming$2.69B$2.69BQoQ +6.2%year on year +12%+6.2%+12%
- Global Linear Networks$2.27B$2.27BQoQ -4.6%year on year -8.6%-4.6%-8.6%
- Studios$4.0M$4.0MQoQ +300%year on year +300%+300%+300%
Entertainment
The closest names by size in the same industry