WBD Q1 revenue down 10% to $8.98B; streaming EBITDA surges to $339M

Warner Bros. Discovery, Inc.

2025-Q1 EPS reported -$0.18 revenue$8,979,000,000

Revenue $8.98B (-10% reported, -9% ex-FX); net loss narrowed to $453M from $966M.
Streaming segment Adj. EBITDA $339M vs $86M; global subscribers 122.3M (+5.3M QoQ).
Global Linear Networks rev down 7%, Adj. EBITDA down 15% to $1,793M on audience declines.
Repaid $2.2B debt; gross debt $38.0B, net leverage 3.8x; refinanced $1.5B 2026 notes.
Reiterated 2025 streaming Adj. EBITDA target of at least $1.3B.

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