---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-25-000189"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:21:01.841106+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# WBD Q2 net income $1.58B; adj. EBITDA +9% to $1.95B; streaming subs 125.7M

## Summary
- Revenue $9.812B (+1% YoY); content rev +17% to $2.471B; Studios rev +55% to $3.801B.
- Streaming segment Adj. EBITDA $293M vs. -$107M; global streaming subs 125.7M (+3.4M QoQ).
- Net income $1.58B includes $2.958B pre-tax gain on debt extinguishment; diluted EPS $0.63.
- Free cash flow $702M (down 28% YoY); gross debt reduced $2.7B to $35.6B; net leverage 3.3x.
- Studios segment on track for at least $2.4B full-year Adj. EBITDA; 2025 guidance reaffirmed.

## SEC filing metadata
- accession: 0001437107-25-000189
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000189/0001437107-25-000189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000189/disca-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-25-000189
- JSON: https://secwatch.observer/filing/0001437107-25-000189.json
- Plain text: https://secwatch.observer/filing/0001437107-25-000189.txt

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