Warner Bros. Discovery swung to a profit and saw revenue growth of 1% during its second quarter in 2025, mainly driven by its studios and streaming companies.
The streaming operations looked revenue to $ 9% to $ 2.8 billion and Eked a profit of $ 293 million, compared to a loss of $ 107 million a year ago, as HBO MAX continued its international expansion.
At the same time, Studios revenues increased $ 55% to $ 3.8 billion, while its profits came to $ 863 million, up from a $ 210 million profit a year ago, due to the strong box office performance for “A Minecraft Movie”, “Sinners” and “Final Destination: Bloodlines.”
But the global linear networking operations weighed the results with revenue that fell 9% to $ 4.8 billion and the profits fell 25% to $ 1.5 billion due to cord, the absence of NCAA MARCH Madness Final Four and Championship and the time of third -party license agreements. The segment’s distribution revenue fell 7% to $ 2.5 billion due to a reduction of 9% in domestic pay -TV subscribers, while advertising revenue fell by 12% to $ 1.95 billion from a domestic audience decline of 23% and the content revenue dipped 4% to $ 287 million.
Here are quarterly results:
Net profit: $ 1.58 billion, compared to a loss of $ 9.99 billion a year ago. This included $ 1.7 billion in “acquisition-related amortization of intangible assets, step-up and restructuring costs,” as well as a “$ 3 billion” reinforcement of debt. “
Revenue per share: 63 cents per diluted share, compared to a loss of 23 cents per share expected by analysts investigated by Yahoo Finance.
Income: $ 9.81 billion, flat year over years, compared with $ 9.83 billion expected by analysts investigated by Yahoo Finance.
Streaming -subscribers: Added 3.4 million subscribers for a total of 125.7 million globally.
WBD is aimed at at least 150 million streaming subscribers at the end of 2026 and expects the streaming segment to deliver a profit of approximately $ 1.3 billion in 2025. It has also set a long -term goal to reach at least $ 3 billion adjusted EBITDA in its studio department.
The latest results come when WBD is about to be divided into two companies in mid -2026: Warner Bros. and Discovery global.
The former, which will be led by WBD CEO David Zaslav, will house Warner Bros. TV group, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max, Warner Bros. Games, Tours, Retail and Experience, as well as studio production facilities in Burbank and Leavesden.
The latter, which will be led by CFO Gunnar Wiedenfels, will include CNN, TNT Sports in the United States, Discovery, Top-to-air channels over Europe, Discovery+ and Bleacher Report (B/R). Discovery Global will retain a 20% share in Warner Bros. To help the company delineate and are expected to take the majority of WBD’s debt.
In connection with the split, the company completed a tender offer and refunded a $ 1.5 billion loan that lapses in 2026 which was financed by a brewing facility of $ 17 billion. This resulted in a decrease of $ 2.2 billion in gross debt. They also repaid $ 500 million in debt, resulting in a total reduction of $ 2.7 billion during the quarter.
WBD ended the quarter with $ 4.9 billion cash at hand and $ 35.6 billion in gross debt.
More to come …
