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Warner Bros. Discovery (WBD) Reports Q2 Earnings: What Key Metrics Have to Say

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Warner Bros. Discovery (WBD - Free Report) reported $9.81 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 1%. EPS of $0.63 for the same period compares to -$4.07 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $9.83 billion, representing a surprise of -0.15%. The company delivered an EPS surprise of +493.75%, with the consensus EPS estimate being -$0.16.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Warner Bros. Discovery performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Global streaming subscribers: 125.7 thousand versus 125.33 thousand estimated by four analysts on average.
  • Total Domestic subscribers: 57.8 thousand versus 57.9 thousand estimated by four analysts on average.
  • Global ARPU: $7.14 compared to the $7.29 average estimate based on four analysts.
  • Domestic ARPU: $11.16 versus the four-analyst average estimate of $11.38.
  • Revenue- Global Linear Networks: $4.8 billion versus $4.74 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -8.9% change.
  • Revenues- Streaming: $2.79 billion compared to the $2.8 billion average estimate based on five analysts.
  • Revenues- Distribution: $4.89 billion versus the three-analyst average estimate of $4.88 billion.
  • Revenues- Other: $240 million versus $291.05 million estimated by three analysts on average.
  • Revenues- Advertising: $2.22 billion compared to the $2.19 billion average estimate based on three analysts.
  • Revenues- Advertising- Global Linear Networks: $1.95 billion compared to the $1.91 billion average estimate based on two analysts. The reported number represents a change of -11.8% year over year.
  • Revenues- Distribution- Global Linear Networks: $2.48 billion versus the two-analyst average estimate of $2.47 billion. The reported number represents a year-over-year change of -7.4%.
  • Revenues- Content- Global Linear Networks: $287 million compared to the $277.06 million average estimate based on two analysts. The reported number represents a change of -4% year over year.

View all Key Company Metrics for Warner Bros. Discovery here>>>

Shares of Warner Bros. Discovery have returned +11.3% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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