---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-26-000072"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2026-08-06T11:04:14+00:00"
generated_at: "2026-08-06T11:06:15.133088+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Warner Bros. Discovery Q2 revenue down 11% to $8.7B; net income falls 91% to $149M; streaming EBITDA up 63%

## Summary
- Total revenues $8.717B, down 11% reported (12% ex-FX); net income $149M vs $1.58B prior year.
- Streaming segment revenues exceeded $3B for first time; Adjusted EBITDA $512M, up 63% ex-FX.
- Studios segment revenue down 39% ex-FX to $2.328B; Adjusted EBITDA down 89% to $96M due to weak theatrical slate.
- Global Linear Networks revenue down 17% ex-FX; advertising down 27% ex-FX, hurt by absence of NBA.
- Free cash flow $572M, down 19%; repaid $15B bridge loan with new term loans; net leverage 3.4x.

## SEC filing metadata
- accession: 0001437107-26-000072
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2026-08-06T11:04:14+00:00
- event_type: earnings
- sentiment: negative
- 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/1437107/000143710726000072/0001437107-26-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710726000072/disca-20260806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-26-000072
- JSON: https://secwatch.observer/filing/0001437107-26-000072.json
- Plain text: https://secwatch.observer/filing/0001437107-26-000072.txt

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