Every 10-Q that Warner Bros. Discovery (WBD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow WBD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WBD filings page.
Warner Bros. Discovery reported a sharp swing to a first‑quarter net loss of $2.916 billion, mainly driven by a one‑time $2.8 billion Netflix Termination Fee after canceling its planned separation and sale of Streaming and Studios to Netflix.
Revenue was essentially flat at $8.893 billion, as growth in Streaming and Studios helped offset lower Global Linear Networks distribution and advertising, including the loss of NBA rights. Content and depreciation costs fell, but higher marketing, integration spending, restructuring charges and interest on a $15 billion bridge loan weighed on results.
The company agreed to be acquired by Paramount Skydance Corporation (PSKY). If completed, each WBD Series A share would receive $31.00 in cash plus a small daily “ticking” amount after September 30, 2026, funded in part by a $45.72 billion guarantee from Larry Ellison and an affiliated trust. The merger requires regulatory approvals and carries sizable potential termination fees on both sides.
Warner Bros. Discovery (WBD) reported third‑quarter results. Revenue was $9,045 million versus $9,623 million a year ago, while operating income rose to $611 million from $281 million on lower costs and depreciation. The quarter showed a net loss of $143 million (basic EPS $0.06 loss) compared with $141 million net income last year.
By category, distribution revenue was $4,702 million, advertising $1,407 million, and content $2,649 million. Restructuring and other charges were $88 million, and content impairments were $36 million. Year‑to‑date, net income reached $996 million, aided by a gain on extinguishment of debt.
On the balance sheet, cash was $4,294 million and total debt consisted of $139 million current and $33,382 million noncurrent. Year‑to‑date cash from operations was $2,515 million; financing cash flow reflected significant debt repayments and refinancings. The company is pursuing a planned Separation into two publicly traded companies and, in October 2025, the Board began evaluating additional strategic alternatives, with timing subject to conditions and approvals.
Warner Bros. Discovery (WBD) 10-Q — Quarter ended June 30, 2025. Revenues were $9,812 million for Q2 and $18,791 million for six months. Operating loss narrowed to $(185) million in Q2 from $(10,208) million year-ago; net income was $1,588 million for Q2 and $1,139 million for the six months, driven primarily by a $2,958 million gain on extinguishment of debt. Total debt outstanding decreased to $35,000 million (debt, gross) with debt, net of adjustments, $34,632 million; borrower drew a $17,000 million bridge loan on June 30, 2025.
Liquidity and balance sheet: cash and equivalents $4,888 million; total assets $101,727 million; total equity $37,323 million. Material corporate actions: announced plan to separate into two public companies (expected mid-2026, subject to conditions) and contributed 70% interest in music catalog to a joint venture for $601 million proceeds. Remaining performance obligations totaled $10,530 million. Revolving receivables program amended to $5,000 million with $4,499 million derecognized receivables as of June 30, 2025.