WBDWarner Bros. Discovery, Inc.

$69B

Q3 2025 Earnings

Communication Services Entertainment

Income Statement

Revenue

$9.0B-6.0% YoY

Gross Profit

$4.5B49.5% margin

Operating Income

$611M6.8% margin

Net Income

-$148M-1.6% margin

EPS (Diluted)

$-0.06

QoQ Revenue Growth

-7.8%

Cash Flow

Operating Cash Flow

$979M

Free Cash Flow

$701M

Stock-Based Comp.

$242M

Balance Sheet

Total Assets

$100.5B

Total Liabilities

$63.2B

Stockholders' Equity

$36.0B

Cash & Equivalents

$4.0B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$9.0B	$9.6B	-6.0%
Gross Profit	$4.5B	$4.4B	+0.9%
Operating Income	$611M	$281M	+117.4%
Net Income	-$148M	$135M	-209.6%

Revenue Segments

Distribution Revenue

$4.7B52%

Content Licensing Contracts

$2.6B29%

Advertising

$1.4B16%

Service, Other

$287M3%

WBD Q3 2025 Earnings — Warner Bros. Discovery, Inc. Revenue & Financial Results | Market Cap Arena