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Warner Bros. Discovery, Inc. WBD Studios — Marketing expense

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$285M+29.5%
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Other financials

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

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Market cap$67.64B+160%
Enterprise value$65.87B+164%
P/S1.8×+1.1×

Profitability

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Gross margin45.2%+2.7pp
Operating margin-4.6%-2.1pp
Net margin1.3%+0.7pp
FCF margin6.2%-5.1pp

Returns & leverage

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Return on equity1.4%+0.7pp
Debt / equity0.0×
Current ratio0.7×-0.1×

Where this comes from

Reported directly by Warner Bros. Discovery, Inc. in its filing.

Tagged under the XBRL concept us-gaap:MarketingExpense.

The official record: Warner Bros. Discovery, Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Warner Bros. Discovery, Inc.'s studios — marketing expense?
Warner Bros. Discovery, Inc. (WBD) reported studios — marketing expense of $275M in Q1 2026.
How has Warner Bros. Discovery, Inc.'s studios — marketing expense changed year-over-year?
Warner Bros. Discovery, Inc.'s studios — marketing expense increased by 9.1% year-over-year, from $252M to $275M.
What is the long-term trend for Warner Bros. Discovery, Inc.'s studios — marketing expense?
Over 3 years (2022 to 2025), Warner Bros. Discovery, Inc.'s studios — marketing expense has grown at a 18.1% compound annual growth rate (CAGR), from $647M to $1.07B.
What does studios — marketing expense mean?
Expenditures related to the promotion, advertising, and marketing of content produced or distributed by the studios segment. This investment is critical for driving audience engagement and box office or licensing performance.