Warner Bros. Discovery Reports Q2 2025 Earnings

Warner Bros. Discovery, Inc. Series A ( (WBD) ) has released its Q2 earnings. Here is a breakdown of the information Warner Bros. Discovery, Inc. Series A presented to its investors.

Warner Bros. Discovery, Inc. is a global media and entertainment company that creates and distributes a diverse portfolio of branded content across television, film, streaming, and gaming. The company is known for its iconic brands such as HBO, CNN, and Warner Bros. Pictures.

In its second-quarter 2025 earnings report, Warner Bros. Discovery announced a modest increase in total revenues to $9.8 billion, alongside a significant turnaround in net income to $1.6 billion from a loss in the previous year. The company highlighted growth in its streaming and studios segments, offset by declines in its global linear networks.

Key financial metrics revealed a 9% increase in adjusted EBITDA to $2.0 billion, driven by the streaming and studios segments. Streaming revenues rose by 8%, supported by a 22% increase in subscribers, while studios revenues surged by 54% due to strong box office performances. However, global linear networks experienced a 9% revenue decline, impacted by reduced domestic linear pay TV subscribers and advertising revenue.

The company also made strategic moves to reduce its gross debt by $2.7 billion during the quarter, ending with $4.9 billion in cash on hand. Warner Bros. Discovery’s streaming subscriber base grew to 125.7 million, an increase of 3.4 million from the previous quarter.

Looking ahead, Warner Bros. Discovery remains focused on its strategic separation of streaming and studios from global linear networks, aiming to enhance strategic flexibility and unlock shareholder value. The company is poised to continue leveraging its diverse content portfolio to drive growth in the evolving media landscape.