---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-22-000228"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T08:40:13.295892+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# WBD Q3 revenue $9.82B (-8% ex-FX); net loss $2.31B; DTC subs up 2.8M to 94.9M

## Summary
- Revenue $9,823M, down 11% on pro forma combined (8% ex-FX); net loss $2,308M including $1,924M amortization and $1,521M restructuring.
- Studios Adj EBITDA $762M (+43% ex-FX); Networks Adj EBITDA $2,630M (-2% ex-FX); DTC Adj EBITDA -$634M.
- Global DTC subscribers 94.9M (+2.8M QoQ); ARPU $7.52; House of the Dragon set HBO premiere records.
- Repaid $2.5B term loan in quarter; gross debt $50.4B; net leverage 5.1x; free cash flow -$192M.
- Increased cost synergy target to at least $3.5B; reaffirmed long-term strategy.

## SEC filing metadata
- accession: 0001437107-22-000228
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710722000228/0001437107-22-000228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710722000228/disca-20221103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-22-000228
- JSON: https://secwatch.observer/filing/0001437107-22-000228.json
- Plain text: https://secwatch.observer/filing/0001437107-22-000228.txt

## Key facts
- Earnings Releases
  Warner Bros. Discovery, Inc. reported financial results for third-quarter 2022.
  - Period: third-quarter 2022
  - Result: reported results
  source text: On November 3, 2022 Warner Bros. Discovery, Inc. (“Warner Bros. Discovery” or the "Company"), released its earnings for the quarter ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000143710722000228/0001437107-22-000228-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.