Warner Bros. Discovery, Inc. (WBD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 8.9B | 9.46B | 9.04B | 9.81B | 8.98B | 10.03B | 9.62B | 9.71B | 9.96B | 10.28B | 9.98B | 10.36B | 10.7B | 11.01B | 9.82B | 9.83B | 3.16B | 3.19B | 3.15B | 3.06B |
| Revenue Growth % | -0.85% | -5.65% | -6.01% | 1.02% | -9.83% | -2.5% | -3.57% | -6.23% | -6.93% | -6.58% | 1.59% | 5.4% | 238.71% | 245.4% | 211.84% | 220.93% | 13.14% | 10.43% | 23% | 20.5% |
| Cost of Goods Sold | 5.87B | 6.6B | 4.56B | 5.97B | 5.13B | 5.53B | 5.18B | 6.2B | 6.06B | 5.9B | 5.31B | 6.64B | 6.68B | 6.95B | 5.63B | 6.63B | 1.24B | 1.07B | 1.53B | 1.05B |
| COGS % of Revenue | 65.89% | 69.79% | 50.46% | 60.81% | 57.14% | 55.12% | 53.84% | 63.87% | 60.84% | 57.33% | 53.2% | 64.07% | 62.48% | 63.17% | 57.28% | 67.42% | 39.13% | 33.48% | 48.54% | 34.45% |
| Gross Profit | 3.04B | 2.86B | 4.48B | 3.85B | 3.85B | 4.5B | 4.44B | 3.51B | 3.9B | 4.39B | 4.67B | 3.72B | 4.01B | 4.05B | 4.2B | 3.2B | 1.92B | 2.12B | 1.62B | 2.01B |
| Gross Margin % | 34.11% | 30.21% | 49.54% | 39.19% | 42.86% | 44.88% | 46.16% | 36.13% | 39.16% | 42.67% | 46.8% | 35.93% | 37.52% | 36.83% | 42.72% | 32.58% | 60.87% | 66.52% | 51.46% | 65.55% |
| Gross Profit Growth % | -21.08% | -36.49% | 0.88% | 9.58% | -1.33% | 2.55% | -4.88% | -5.72% | -2.86% | 8.24% | 11.3% | 16.24% | 108.79% | 91.23% | 158.85% | 59.54% | 5.49% | 20.66% | 4.04% | 15.94% |
| Operating Expenses | 2.31B | 2.32B | 3.87B | 4.03B | 3.88B | 4.34B | 4.16B | 13.72B | 4.17B | 4.57B | 4.57B | 4.63B | 4.57B | 5.95B | 6.39B | 6.84B | 1.57B | 1.61B | 1.29B | 1.23B |
| OpEx % of Revenue | 25.99% | 24.55% | 42.79% | 41.07% | 43.27% | 43.26% | 43.24% | 141.22% | 41.85% | 44.44% | 45.83% | 44.68% | 42.73% | 54.03% | 65.01% | 69.61% | 49.7% | 50.58% | 41.02% | 40.1% |
| Selling, General & Admin | 2.31B | 2.39B | 2.36B | 2.48B | 2.19B | 2.22B | 2.38B | 2.46B | 2.23B | 2.46B | 2.29B | 2.56B | 2.39B | 2.51B | 2.59B | 3.54B | 1.04B | 1.07B | 944M | 952M |
| SG&A % of Revenue | 25.99% | 25.22% | 26.1% | 25.24% | 24.43% | 22.12% | 24.78% | 25.34% | 22.41% | 23.87% | 22.96% | 24.73% | 22.32% | 22.81% | 26.36% | 36% | 32.92% | 33.54% | 29.97% | 31.09% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 723M | 536M | 611M | -185M | -37M | 162M | 281M | -10.21B | -267M | -182M | 97M | -906M | -557M | -1.89B | -2.19B | -3.64B | 353M | 508M | 329M | 779M |
| Operating Margin % | 8.12% | 5.67% | 6.76% | -1.89% | -0.41% | 1.62% | 2.92% | -105.1% | -2.68% | -1.77% | 0.97% | -8.75% | -5.21% | -17.21% | -22.29% | -37.03% | 11.17% | 15.94% | 10.44% | 25.44% |
| Operating Income Growth % | 2054.05% | 230.86% | 117.44% | 98.19% | 86.14% | 189.01% | 189.69% | -1026.71% | 52.06% | 90.39% | 104.43% | 75.1% | -257.79% | -472.83% | -765.65% | -567.14% | -10.86% | 4.1% | -38.04% | 8.65% |
| EBITDA | 1.95B | 1.85B | 1.99B | 4.91B | 4.66B | 4.87B | 5.35B | -4.72B | 5.45B | 5.32B | 5.27B | 5.65B | 6.22B | 4.41B | 4.89B | 4.25B | 1.85B | 1.81B | 1.89B | 1.89B |
| EBITDA Margin % | 21.89% | 19.57% | 21.96% | 49.99% | 51.84% | 48.59% | 55.63% | -48.62% | 54.71% | 51.72% | 52.83% | 54.51% | 58.17% | 40.06% | 49.81% | 43.2% | 58.59% | 56.89% | 59.87% | 61.82% |
| EBITDA Growth % | -58.13% | -62.01% | -62.9% | 203.88% | -14.56% | -8.4% | 1.54% | -183.63% | -12.47% | 20.61% | 7.75% | 33% | 236.25% | 143.24% | 159.44% | 124.25% | 23.4% | 7.66% | 15.35% | 11.22% |
| D&A (Non-Cash Add-back) | 1.23B | 1.31B | 1.38B | 5.09B | 4.69B | 4.71B | 5.07B | 5.49B | 5.71B | 5.5B | 5.17B | 6.55B | 6.78B | 6.3B | 7.08B | 7.88B | 1.5B | 1.3B | 1.56B | 1.11B |
| EBIT | 723M | 178M | 597M | 2.92B | 34M | 134M | 316M | -9.52B | -304M | -111M | 42M | -906M | -667M | -1.98B | -2.3B | -3.73B | 829M | 337M | 392M | 877M |
| Net Interest Income | -561M | -586M | -570M | -404M | -404M | -452M | -445M | -455M | -455M | -451M | -531M | -534M | -526M | -558M | -535M | -511M | -151M | -140M | -159M | -155M |
| Interest Income | 22M | 0 | 0 | 59M | 64M | 38M | 49M | 63M | 60M | 51M | 43M | 40M | 45M | 0 | 20M | 0 | 2M | 14M | 0 | 2M |
| Interest Expense | 583M | 586M | 570M | 463M | 468M | 490M | 494M | 518M | 515M | 502M | 574M | 574M | 571M | 558M | 555M | 511M | 153M | 154M | 159M | 157M |
| Other Income/Expense | -3.84B | -944M | -584M | 2.64B | -397M | -518M | -459M | 173M | -552M | -431M | -629M | -574M | -681M | -647M | -661M | -605M | 323M | -325M | -96M | -59M |
| Pretax Income | -3.12B | -408M | 27M | 2.45B | -434M | -356M | -178M | -10.04B | -819M | -613M | -532M | -1.48B | -1.24B | -2.54B | -2.85B | -4.24B | 676M | 183M | 233M | 720M |
| Pretax Margin % | -35.04% | -4.31% | 0.3% | 25.01% | -4.83% | -3.55% | -1.85% | -103.32% | -8.22% | -5.96% | -5.33% | -14.29% | -11.57% | -23.08% | -29.02% | -43.19% | 21.4% | 5.74% | 7.4% | 23.51% |
| Income Tax | 214M | -161M | 170M | 866M | 15M | 284M | -319M | -7M | 136M | -221M | -125M | -260M | -178M | -462M | -566M | -836M | 201M | 92M | 36M | 2M |
| Effective Tax Rate % | -6.86% | 39.46% | 629.63% | 35.29% | -3.46% | -79.78% | 179.21% | 0.07% | -16.61% | 36.05% | 23.5% | 17.57% | 14.38% | 18.18% | 19.85% | 19.7% | 29.73% | 50.27% | 15.45% | 0.28% |
| Net Income | -3.33B | -252M | -148M | 1.58B | -453M | -494M | 135M | -9.99B | -966M | -400M | -417M | -1.24B | -1.07B | -2.1B | -2.31B | -3.42B | 456M | 38M | 156M | 672M |
| Net Margin % | -37.45% | -2.66% | -1.64% | 16.1% | -5.05% | -4.93% | 1.4% | -102.81% | -9.7% | -3.89% | -4.18% | -11.97% | -9.99% | -19.09% | -23.5% | -34.78% | 14.43% | 1.19% | 4.95% | 21.95% |
| Net Income Growth % | -635.98% | 48.99% | -209.63% | 115.82% | 53.11% | -23.5% | 132.37% | -705.32% | 9.64% | 80.96% | 81.93% | 63.72% | -334.43% | -5628.95% | -1579.49% | -608.63% | 225.71% | -85.98% | -48% | 147.97% |
| Net Income (Continuing) | -3.33B | -247M | -143M | 1.59B | -449M | -640M | 141M | -10.03B | -955M | -392M | -407M | -1.22B | -1.06B | -2.08B | -2.29B | -3.41B | 475M | 91M | 197M | 718M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.13B | 1.25B | 1.29B | 1.3B | 1.33B | 901M | 1.07B | 1.07B | 1.14B | 1.25B | 1.37B | 1.33B | 1.35B | 1.57B | 1.56B | 1.56B | 1.59B | 1.8B | 1.79B | 1.77B |
| EPS (Diluted) | -1.17 | -0.10 | -0.06 | 0.63 | -0.18 | -0.20 | 0.05 | -4.07 | -0.40 | -0.16 | -0.17 | -0.51 | -0.44 | -0.86 | -0.95 | -1.50 | 0.69 | 0.08 | 0.24 | 1.01 |
| EPS Growth % | -550% | 50% | -209.69% | 115.48% | 55% | -25% | 132.18% | -698.04% | 9.09% | 81.4% | 82.11% | 66% | -163.77% | -1161.73% | -495.83% | -248.51% | 228.57% | -80.71% | -45.45% | 152.5% |
| EPS (Basic) | -1.17 | -0.10 | -0.06 | 0.64 | -0.18 | -0.20 | 0.06 | -4.07 | -0.40 | -0.16 | -0.17 | -0.51 | -0.44 | -0.87 | -0.95 | -1.50 | 0.69 | 0.08 | 0.24 | 1.02 |
| Diluted Shares Outstanding | 2.49B | 2.53B | 2.48B | 2.5B | 2.46B | 2.45B | 2.47B | 2.45B | 2.44B | 2.44B | 2.44B | 2.44B | 2.43B | 2.43B | 2.43B | 2.29B | 665M | 667M | 663M | 664M |
| Basic Shares Outstanding | 2.49B | 2.48B | 2.48B | 2.48B | 2.46B | 2.45B | 2.45B | 2.45B | 2.44B | 2.44B | 2.44B | 2.44B | 2.43B | 2.43B | 2.43B | 2.29B | 591M | 511M | 589M | 589M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |