Warner Bros. Discovery Inc. Series A Common Stock Q3 2025 Earnings Recap

WBD Q3 2025 November 6, 2025

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Warner Bros. Discovery reported a strong Q3 2025, leading the global box office with significant gains in both film and streaming segments, further solidifying its position as a top media entity.

Earnings Per Share Beat

$-0.06 vs $-0.07 est.

+11.6% surprise

Revenue Miss

9045000000 vs 9176121768 est.

-1.4% surprise

Market Reaction

1-Day +1.12%

5-Day -1.25%

30-Day +26.05%

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Key Takeaways

Warner Bros. led the global box office in 2025, becoming the first studio to surpass $4 billion in ticket sales.
The Streaming segment is projected to deliver over $1.3 billion in EBITDA, a turnaround from a $2.5 billion loss three years ago.
HBO Max has expanded globally to over 100 countries, adding more than 30 million subscribers in the last three years.
Q3 saw HBO's robust content pipeline contribute to strong viewer engagement, including a highly successful premiere of *It: Welcome to Derry*.
The company is set to exceed its $2.4 billion EBITDA target for studios this year, on track towards a $3 billion goal.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit WBD on AllInvestView.

Next Q1 2026