Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 79

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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082 $7,662 5 %6 %Studios3,321 2,680 24 %23 %9,436 7,950 19 %19 %Streaming & Studios eliminations(675)(424)(59)%(59)%(2,698)(1,158)NMNMStreaming & Studios5,279 4,890 8 %7 %14,820 14,454 3 %2 %Global Linear Networks3,883 5,010 (22)%(23)%13,460 15,407 (13)%(13)%Corporate1 4 (75)%(75)%2 6 (67)%(67)%Other inter-segment eliminations (118)(281)58 %58 %(446)(573)22 %22 %Total revenues$9,045 $9,623 (6)%(6)%$27,836 $29,294 (5)%(5)%

Adjusted EBITDA

 Three Months Ended September 30, Nine Months Ended September 30, 20252024% Change% Change (ex-FX)20252024% Change% Change (ex-FX)Streaming$345 $289 19 %24 %$977 $268 NMNMStudios695 308 NMNM1,817 702 NMNMStreaming & Studios eliminations(32)42 NMNM(456)64 NMNMStreaming & Studios1,008 639 58 %59 %2,338 1,034 NMNMGlobal Linear Networks1,702 2,115 (20)%(20)%5,007 6,232 (20)%(19)%Corporate(258)(296)13 %14 %(807)(927)13 %14 %Other inter-segment eliminations 18 (45)NMNM(10)(29)(66)%(66)%Adjusted EBITDA$2,470 $2,413 2 %2 %$6,528 $6,310 3 %5 % 

37

Streaming Segment

The following table presents, for our Streaming segment, revenues by type, certain operating expenses, Adjusted EBITDA and a reconciliation of Adjusted EBITDA to operating loss (in millions).

 Three Months Ended September 30,Nine Months