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Warner Bros Discovery WBD

US equityMarket cap rank #217Streaming Services
$30.74
−$0.02 (-0.07%)
Market open · Sep 24, 1:10 pm ET
After hours $30.76 0.00%
Open$30.79
Prev close$30.76
Day range$30.71 – $30.79
Volume24.13M
Market cap$77.19B
P/E (TTM)
Dividend yield

Earnings

Average move on report day±5.9%last 16 reports
Closed higher7 of 1644% of the time
Best reaction+11.8%
Worst reaction-19.0%

Stock move on the day after each report

-19.0%2023/Q3-9.9%2023/Q4+3.1%2024/Q1-8.9%2024/Q2+11.8%2024/Q3+4.8%2024/Q4+5.3%2025/Q1-7.3%2025/Q2-1.5%2025/Q3-0.3%2025/Q4-0.3%2026/Q1+1.7%2026/Q2
QuarterReport dateTimingImplied moveActual moveVersus implied
2026/Q26 Aug 2026Pre Market±0.3%+1.66%Bigger than priced
2026/Q16 May 2026After Market±0.4%-0.29%Within range
2025/Q426 Feb 2026Pre Market±0.4%-0.35%Within range
2025/Q36 Nov 2025Pre Market±0.6%-1.49%Bigger than priced
2025/Q27 Aug 2025Pre Market±1.1%-7.27%Bigger than priced
2025/Q18 May 2025Pre Market±0.9%+5.26%Bigger than priced
2024/Q427 Feb 2025Pre Market±1.1%+4.76%Bigger than priced
2024/Q37 Nov 2024Pre Market±0.8%+11.81%Bigger than priced
2024/Q27 Aug 2024After Market±1.1%-8.95%Bigger than priced
2024/Q19 May 2024Pre Market±0.7%+3.08%Bigger than priced
2023/Q423 Feb 2024Pre Market±1.1%-9.94%Bigger than priced
2023/Q38 Nov 2023Pre Market±1.1%-19.04%Bigger than priced
2023/Q23 Aug 2023Pre Market±1.2%+2.71%Bigger than priced
2023/Q15 May 2023Pre Market±1.4%+4.54%Bigger than priced
2022/Q423 Feb 2023After Market±1.8%-1.14%Within range
2022/Q33 Nov 2022After Market±1.5%-12.87%Bigger than priced

"Implied move" is the size of move the options market was pricing ahead of the report. Move is the stock’s change on the first session after the release.

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Global Linear Networks$3.99B 42.5%
  • Streaming$3.08B 32.8%
  • Studios$2.33B 24.8%
  • Corporate$1.00M 0.0%

Latest reported quarter: Q2, ended Jun 2026

Revenue$8.72B-11.2% YoY
Operating profit$373.00M+572.2% YoY
Net profit$162.00M-89.8% YoY
Diluted EPS$0.06-90.5% YoY
Free cash flow$572.00M-18.5% YoY
Operating cash flow$848.00M

Revenue, last 8 quarters

$9.6BSep '24$10.0BDec '24$9.0BMar '25$9.8BJun '25$9.0BSep '25$9.5BDec '25$8.9BMar '26$8.7BJun '26

Net profit, last 8 quarters

$141.0MSep '24$-640.0MDec '24$-449.0MMar '25$1.6BJun '25$-143.0MSep '25$-247.0MDec '25$-2.9BMar '26$162.0MJun '26

Profitability & balance sheet

Gross margin47.2%
Operating margin6.1%
Net margin-8.8%
Return on equity-9.2%
Return on assets-3.2%
Return on invested capital-2.1%
Current ratio0.78
Liabilities / assets65.0%
Cash & investments$3.37B
Total debt$32.02B
Net cash (debt)-$28.65B
Free cash flow / sales6.0%
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