Warner Bros. Discovery, Inc. Series A (WBD)
NASDAQ:WBD
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.15Last Year’s EPS
0.63Same Quarter Last Year
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and strategic narrative: strong streaming subscriber growth and a notable profitability turnaround at HBO Max, major content and awards momentum at Warner Bros., improved sports and network engagement metrics, and strategic progress validated by shareholder approval of the Paramount Skydance transaction. Offsetting these positives are near-term cash and below-the-line costs tied to the sale/separation process, ongoing linear TV disruption and network revenue/EBITDA pressure, and the need to prove profitable sports streaming models. On balance, the positives (sizable subscriber and profit gains, content strength and international expansion) materially outweigh the near-term financial and structural headwinds.Company Guidance
HBO Max Global Expansion and Subscriber Growth
Launched HBO Max in the U.K., Germany, Italy and Ireland; exceeded guidance of over 140 million total subscribers by end of Q1 and expect to finish the year with more than 150 million subscribers globally; added almost 50 million subs since the 2022 starting cohort.
Streaming Profitability Turnaround and Operating Leverage
HBO Max transformed from a loss-making position (cited as losing ~$2 billion previously) to generating positive results (cited as ~$1.4 billion last year), reflecting significant operating leverage and accelerating subscriber-related revenue growth with double-digit bottom-line growth trends.
Breakout Content Driving Engagement
Major content wins: The Pitt S2 averaged more than 20 million viewers per episode; A Knight of the Seven Kingdoms averaged ~36 million viewers per episode and is among the most popular HBO debuts; HBO currently has a record number of active shows averaging more than 20 million global viewers.
Studio Creative and Awards Momentum
Warner Bros. received 11 Oscars including Best Picture (most Oscars in the studio's 103-year history); strong upcoming film cadence with 14 films slated in 2026 and up to 18 in 2027 (includes Dune: Part Three, Batman, Man of Tomorrow), supporting the goal of at least $3 billion annual WB Studios adjusted EBITDA.
Sports and Live Events Performance
Milano Cortina Winter Olympics linear viewership up 50% vs Beijing 2022; streaming hours more than doubled and streaming viewers tripled vs Beijing 2022; record-breaking March Madness with the most-watched men's national championship game ever on TNT Sports; strong starts to MLB regular season and NHL playoffs.
Improving Network and News Metrics
General entertainment delivery trends improved 16% sequentially in year-over-year delivery versus Q4; networks like TLC and TBS grew prime-time viewership by double digits YoY (excluding sports); CNN delivered 30% year-over-year growth in total minutes spent across platforms in Q1.
Strategic Progress and Shareholder Approval of Transaction
Management highlighted progress across the three strategic pillars (Streaming, WB Studios, Global Linear Networks); shareholders voted to approve sale to Paramount Skydance at $31 per share, reflecting perceived value of the transaction.
Bundling, International Ad Sales and Monetization Levers
Company emphasized higher LTV from bundled subscribers, growing international ad-sales (still nascent but expanding), moving wholesale subs to retail to increase ARPU, and multiple growth levers (content slate, product improvements, ad sales, bundling) expected to drive further margin expansion.
WBD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
WBD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $27.22 | $27.20 | -0.07% |
Feb 26, 2026 | $28.90 | $28.80 | -0.35% |
Nov 06, 2025 | $22.76 | $22.42 | -1.49% |
Aug 07, 2025 | $12.79 | $11.86 | -7.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Warner Bros. Discovery, Inc. Series A (WBD) report earnings?
Warner Bros. Discovery, Inc. Series A (WBD) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Warner Bros. Discovery, Inc. Series A (WBD) earnings time?
Warner Bros. Discovery, Inc. Series A (WBD) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WBD EPS forecast?
WBD EPS forecast for the fiscal quarter 2026 (Q2) is -0.15.
