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Warner Bros. Discovery, Inc. WBD Q1 2026 earnings

Reported May 6, 2026 · After market close

Revenue$8.9BIn line
EPS-$1.17Miss by $1.06
Revenue estimate$8.9B
EPS estimate-$0.11

Next report

Nov 5, 2026 (in a month)
Revenue estimate$8.7B
EPS estimate$0.02

Financials

Q1 2026

Income statement

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Revenue$8.9B-1.0%
Gross profit$4.3B+10.4%
Operating income-$2.5B-6,573%
Net income-$2.9B-544%
EPS (diluted)-$1.17-550%

Balance sheet

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Cash & equivalents$3.3B-15.6%
Total debt$1.5B-46.3%
Total equity$32.6B-3.7%
Total assets$97.8B-3.8%

Cash flow

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Operating cash flow-$208.0M-138%
CapEx$268.0M+6.8%
Free cash flow-$476.0M-258%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$68.84B+161%
Enterprise value$67.06B+166%
P/S1.8×+1.2×

Profitability

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Gross margin45.2%+2.7pp
Operating margin-4.6%-2.1pp
FCF margin6.2%-5.1pp

Returns & leverage

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Debt / equity0×0.0×
Current ratio0.7×-0.1×

Segments

By segment

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Global Linear Networks$4.4B—
Studios$3.1B—
Streaming$2.9B—

By product

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Distribution$4.9B—
Advertising$1.8B-6.7%

FAQ

When did Warner Bros. Discovery, Inc. report Q1 2026 earnings?
Warner Bros. Discovery, Inc. (WBD) reported Q1 2026 earnings on May 6, 2026 after market close.
What were Warner Bros. Discovery, Inc.'s Q1 2026 revenue and EPS?
Warner Bros. Discovery, Inc. reported revenue of $8.9B and eps of $-1.17 for Q1 2026.
Did Warner Bros. Discovery, Inc. beat estimates in Q1 2026?
Revenue beat the consensus estimate of $8.9B by $4.3M. EPS missed the consensus estimate of $-0.11 by $1.06.
How did Warner Bros. Discovery, Inc.'s Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.0% from $9.0B a year earlier and eps declined 550.0% from $-0.18.
Where can I find Warner Bros. Discovery, Inc.'s Q1 2026 SEC filings?
You can read the 8-K earnings release (0001437107-26-000055) and the 10-Q periodic report (0001437107-26-000057) directly on SEC EDGAR. The filing index links above go to sec.gov.