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Warner Bros (WBD)
NASDAQ:WBD
Earnings Data
Report Date
May 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.08Last Year’s EPS
-0.18Same Quarter Last Year
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong creative and commercial momentum across studios, HBO/HBO Max streaming scale and subscriber targets, improved advertising trends, and sports/event engagement — balanced against persistent secular pressures in linear, an underwhelming recent games launch with a thin near-term pipeline, and investor focus on leverage around the Discovery Global separation. Management framed the highlights as durable and positioned for further monetization (price, ads, share enforcement) and believes Discovery Global's leverage profile is sustainable.Company Guidance
Box Office and Film Slate Outperformance
Warner Bros. Motion Picture Group delivered seven consecutive films opening > $40,000,000, spent 16 total weeks atop the global box office, had nine films debut at #1, won nine Golden Globe Awards, and is up for 30 Academy Awards. The recent original films generated over $160,000,000 at the global box office in two weeks, including an $83,000,000 opening weekend.
Streaming Subscriber Scale and Outlook
HBO Max scaling globally: management is on track to reach >140,000,000 total streaming subscribers by the end of Q1 and expects to exceed 150,000,000 subscribers by the end of the year. Executives cited global launches (Germany, Italy, UK, Ireland) and continued international expansion as key drivers.
Strong Linear & Network Audience Share
WBD's portfolio attracted 30% of all prime-time cable viewing in the U.S., with HBO and linear networks delivering multiple breakout series and sequential audience growth (some shows seeing 30–50% audience growth versus prior seasons).
Significant Sports and Event Engagement
During the 2026 Milano Cortina Olympic Winter Games WBD more than tripled its streaming audience and saw >50% growth in linear hours viewed across Europe versus the 2022 Winter Games; WBD also reported 440 sports events in the past 12 months that reached ≥2,000,000 viewers.
Advertising Trends Improving
Management reported sequential improvement in advertising trends in Q4 that continued into Q1, with stronger scatter premiums, healthy upfronts, and positive international ad sales trends (management expects international ad sales to be flat to slightly up for the year).
Streaming Monetization & Product Levers
WBD identified multiple growth levers for streaming: stronger original content, major market launches, password-sharing enforcement scaling in 2026, product and engagement improvements, and monetization via price increases and ad tiers (management noted international ad fill rates remain relatively low, implying upside).
Studio & TV Creative Renaissance
Management emphasized a creative turnaround across Warner Bros. Motion Pictures, HBO, and Warner Bros. Television — retaining and adding top creative talent, rebuilding franchises (e.g., Minecraft, Superman, Batman) and delivering hit series that drove meaningful social engagement and high viewership metrics (examples: series averaging 13M, 24M, and 27M viewers per episode cited).
Discovery Global Separation and Capital Positioning
Management announced planned separation of Discovery Global with expected pro forma net leverage for Discovery Global around ~3.3x, which management believes is sustainable. They indicated expected credit ratings in the single-B to low double-B range and showed confidence in the standalone international/linear economics and profitability of Discovery+ in many markets.
Games Pipeline Reset and Upcoming Titles
After a reset, the games pipeline is being refocused on proven studios and franchises. Two notable 2026 releases were highlighted: a TT Games console/PC title launching in May and a mobile follow-up (Dragonfire) to Game of Thrones: Conquest launching in summer 2026; management emphasized past long-term returns from existing mobile titles.
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 |
|---|---|---|---|
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% |
May 08, 2025 | $8.56 | $9.01 | +5.26% |
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 (WBD) report earnings?
Warner Bros (WBD) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).
What is Warner Bros (WBD) earnings time?
Warner Bros (WBD) earnings time is at May 07, 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 (Q1) is -0.08.
