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Warner Bros. Discovery, Inc. WBD Q2 2025 earnings

Reported August 7, 2025 · Before market open

Revenue$9.8BBeat by $38.4M
EPS$0.63Beat by $0.87
Revenue estimate$9.8B
EPS estimate-$0.24

Next report

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

Financials

Q2 2025

Income statement

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Revenue$9.8B+1.0%
Gross profit$3.8B+9.6%
Operating income-$185.0M+98.2%
Net income$1.6B+116%
EPS (diluted)$0.63+115%

Balance sheet

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Cash & equivalents$4.9B+35.3%
Total debt$221.0M-94.0%
Total equity$36.0B+5.0%
Total assets$101.73B-5.8%

Cash flow

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Operating cash flow$983.0M-20.0%
CapEx$281.0M+11.5%
Free cash flow$702.0M-28.1%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$26.97B+47.9%
Enterprise value$22.3B+22.0%
P/E35.1×—
P/S0.7×+0.2×

Profitability

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Gross margin43.3%+2.0pp
Operating margin0.2%+0.1pp
Net margin2%+1.0pp
FCF margin10.6%-6.3pp

Returns & leverage

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Return on equity2.2%+1.1pp
Debt / equity0×-0.1×
Current ratio1×+0.3×

Segments

By segment

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Global Linear Networks$4.8B—
Studios$3.8B—

By product

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Distribution$4.9B—
Advertising$2.2B-8.8%

By geography

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Non Us$3.1B-4.2%

FAQ

When did Warner Bros. Discovery, Inc. report Q2 2025 earnings?
Warner Bros. Discovery, Inc. (WBD) reported Q2 2025 earnings on August 7, 2025 before market open.
What were Warner Bros. Discovery, Inc.'s Q2 2025 revenue and EPS?
Warner Bros. Discovery, Inc. reported revenue of $9.8B and eps of $0.63 for Q2 2025.
Did Warner Bros. Discovery, Inc. beat estimates in Q2 2025?
Revenue beat the consensus estimate of $9.8B by $38.4M. EPS beat the consensus estimate of $-0.24 by $0.87.
How did Warner Bros. Discovery, Inc.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.0% from $9.7B a year earlier.
Where can I find Warner Bros. Discovery, Inc.'s Q2 2025 SEC filings?
You can read the 8-K earnings release (0001437107-25-000189) and the 10-Q periodic report (0001437107-25-000192) directly on SEC EDGAR. The filing index links above go to sec.gov.