Discovery
CompanyJapan
Documents about Discovery
Financial report1 page
Warner Bros. Discovery: Form 10-Q Q2 2026
Warner Bros. Discovery faces a period of profound structural and financial transition as it navigates a $31.00-per-share acquisition by Paramount Skydance Corporation (PSKY).
- Warner Bros. Discovery reported a significant decline in Studios segment revenue, which dropped from $3.8 billion in Q2 2025 to $2.3 billion in Q2 2026, resulting in a segment Adjusted EBITDA decrease from $863 million to $96 million.
- The Streaming segment showed growth, with Q2 2026 revenue rising 10% year-over-year to $3.08 billion and Adjusted EBITDA increasing 75% to $512 million.
- Global Linear Networks revenue fell from $4.8 billion in Q2 2025 to $3.99 billion in Q2 2026, with segment Adjusted EBITDA declining from $1.51 billion to $1.45 billion.
Warner Bros. DiscoveryAug 2026
Financial report1 page
Warner Bros. Discovery: Form 10-Q (Q1 2026)
Warner Bros. Discovery’s first-quarter 2026 results reveal a company navigating significant strategic and financial turbulence while maintaining core content operations.
- Warner Bros. Discovery reported a $2.9 billion net loss in Q1 2026, driven primarily by a $2.8 billion cash fee and $204 million in restructuring charges following the termination of the Netflix merger.
- The company faces significant liquidity constraints with cash balances of $3.27 billion against a total debt load of $32.97 billion, necessitating a new $1 billion credit facility secured in April 2026.
- Adjusted EBITDA rose 29% to $438 million, bolstered by a 19% increase in ad-lite streaming revenue and a 7% lift in distribution income.
Warner Bros. DiscoveryMay 2026
Financial report1 page
Annual Report: SEC Form 10-K
SEC 10-K filing for Warner Bros. Discovery, filed 2026-02-27.
- The company reported a net income of $727 million in 2025, a significant recovery from a net loss of $11,311 million in 2024 and $3,126 million in 2023.
- Total revenues decreased from $41,321 million in 2023 to $39,321 million in 2024, and further to $37,296 million in 2025.
- Impairments and loss on dispositions significantly decreased to $172 million in 2025, down from $9,603 million in 2024. The 2024 loss included a $9,147 million goodwill impairment charge related to Global Linear Networks.
Warner Bros. DiscoveryFeb 2026
Financial report1 page
Warner Bros. Discovery: Form 10-Q (Q3 2025)
SEC 10-Q filing for Warner Bros. Discovery, filed 2025-11-06.
- Warner Bros. Discovery reported a net loss of $143 million for Q3 2025, a significant decline from a net income of $141 million in Q3 2024. For the nine months ended September 30, 2025, the company had a net income of $996 million, a substantial improvement from a $10.842 billion net loss in the same period of 2024.
- Total revenues for Q3 2025 decreased by 6% to $9.045 billion compared to $9.623 billion in Q3 2024. For the nine months ended September 30, 2025, total revenues were $27.836 billion, a 5% decrease from $29.294 billion in the prior year.
- The Global Linear Networks segment experienced a significant revenue decline of 22% in Q3 2025 to $3.883 billion, and a 13% decline for the nine months ended September 30, 2025, to $13.460 billion.
Warner Bros. DiscoveryNov 2025
Financial report1 page
Warner Bros. Discovery: Form 10-Q (Q2 2025)
SEC 10-Q filing for Warner Bros. Discovery, filed 2025-08-07.
- Warner Bros. Discovery's Streaming segment significantly improved, moving from a $107 million loss in Q2 2024 to a $293 million Adjusted EBITDA profit in Q2 2025, and from a $21 million loss to a $632 million profit for the six months ended June 30, 2025.
- The Studios segment also saw substantial growth, with Adjusted EBITDA increasing from $210 million in Q2 2024 to $863 million in Q2 2025, and from $394 million to $1,122 million for the six months ended June 30, 2025.
- Global Linear Networks experienced a decline in Adjusted EBITDA, falling from $1,998 million in Q2 2024 to $1,512 million in Q2 2025, and from $4,117 million to $3,305 million for the six months ended June 30, 2025.
Warner Bros. DiscoveryAug 2025
Financial report1 page
Warner Bros. Discovery Form 10-Q: Q1 2025
SEC 10-Q filing for Warner Bros. Discovery, filed 2025-05-08.
- Warner Bros. Discovery reported a net loss of $449 million for Q1 2025, an improvement from a net loss of $955 million in Q1 2024.
- The company's cash, cash equivalents, and restricted cash decreased significantly from $5,416 million at the beginning of Q1 2025 to $3,974 million by the end of the quarter.
- Warner Bros. Discovery's total remaining performance obligations as of March 31, 2025, are $10,242 million, with significant portions from content licensing and sports sublicensing ($4,124 million through 2032) and brand licensing ($3,031 million through 2052).
Warner Bros. DiscoveryMay 2025
Financial report1 page
Warner Bros. Discovery Annual Report: Form 10-K FY2024
Warner Bros. Discovery operates as a diversified global media and entertainment enterprise, focusing on the creation, production, and distribution of content across television, film, and digital platforms.
- Warner Bros. Discovery is prioritizing the transition from declining linear cable networks to direct-to-consumer streaming services as its primary strategic objective.
- The company is executing cost-rationalization programs and debt reduction strategies to maintain liquidity and shareholder value amid a volatile advertising market.
- Financial performance is currently pressured by the secular decline of traditional television revenue, which historically served as the company's core earnings engine.
Warner Bros. DiscoveryFeb 2025
Financial report1 page
Warner Bros. Discovery 10-Q: Q3 2024
Warner Bros.
- Warner Bros. Discovery is navigating a structural decline in its linear television segment, where advertising revenue and affiliate fees are contracting due to cord-cutting and changing consumption habits.
- The Max streaming platform serves as the primary pillar of the company’s long-term profitability strategy to offset losses in traditional network media.
- Management is prioritizing debt reduction and operational efficiency over aggressive content spending to stabilize the balance sheet and improve free cash flow.
Warner Bros. DiscoveryNov 2024
Financial report1 page
Warner Bros. Discovery Form 10-Q: Q2 2024
Warner Bros. Discovery faced a challenging second quarter in 2024, characterized by a substantial net loss of $10.03 billion.
- Warner Bros. Discovery reported a $10.03 billion net loss for Q2 2024, largely driven by a $9.1 billion non-cash goodwill impairment charge against its Networks segment due to the declining linear television market.
- Total quarterly revenue declined to $9.71 billion from $10.36 billion in the prior-year period, impacted by falling linear subscribers, advertising headwinds, and a 66% year-to-date drop in gaming revenue.
- The Direct-to-Consumer segment grew its subscriber base by 7% to 103.3 million and saw a 99% surge in advertising revenue, though these gains were partially offset by rising sports content costs.
Warner Bros. DiscoveryAug 2024
Financial report1 page
Warner Bros. Discovery 10-Q: Q1 2024
Warner Bros. Discovery faced a challenging financial landscape during the first quarter of 2024, characterized by a notable decline in total revenues and significant shifts across its core business segments.
- Warner Bros. Discovery reported Q1 2024 total revenues of $9.96 billion, a 7% decrease compared to the same period in 2023.
- The studios segment revenue declined by 12% due to a lack of major theatrical releases and reduced television licensing activity.
- The networks segment revenue fell by 8% as the company faced declining affiliate fees and lower advertising demand.
Warner Bros. DiscoveryMay 2024
Financial report1 page
Warner Bros. Discovery Annual Report: Form 10-K 2023
SEC 10-K filing for Warner Bros. Discovery, filed 2024-02-23.
- As of December 31, 2023, Warner Bros. Discovery had approximately 35,300 employees, with 53% located in the U.S. and 47% outside the U.S.
- The company's consolidated goodwill balance was $35.0 billion as of December 31, 2023, with $17.6 billion associated with Networks and $8.1 billion with DTC reporting units.
- Goodwill impairment assessments were performed as of October 1, 2023, for all reporting units, and no impairment was recorded as the estimated fair value of each reporting unit exceeded its carrying value.
Warner Bros. DiscoveryFeb 2024
Financial report1 page
Warner Bros. Discovery: Form 10-Q Q3 2023
Warner Bros. Discovery’s financial performance for the third quarter of 2023 reflects a period of strategic restructuring and significant debt reduction efforts.
- Warner Bros. Discovery prioritized debt reduction and cash flow generation throughout the first nine months of 2023 to improve long-term financial stability.
- Management implemented cost-synergy initiatives across global operations to offset declining advertising revenues within traditional cable networks.
- The company is shifting its strategic focus from pure scale to profitability, emphasizing the monetization of intellectual property and the stabilization of streaming margins.
Warner Bros. DiscoveryNov 2023