Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 76

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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-FX)Streaming$2,793 $2,568 9 %8 %$5,449 $5,028 8 %9 %Studios3,801 2,449 55 %54 %6,115 5,270 16 %16 %Streaming & Studios eliminations(1,400)(416)NMNM(2,023)(734)NMNMStreaming & Studios5,194 4,601 13 %12 %9,541 9,564 — %— %Global Linear Networks4,803 5,272 (9)%(9)%9,577 10,397 (8)%(8)%Corporate1 1 — %— %1 2 (50)%(50)%Other inter-segment eliminations (186)(161)(16)%(16)%(328)(292)(12)%(12)%Total revenues$9,812 $9,713 1 %— %$18,791 $19,671 (4)%(4)%

Adjusted EBITDA

 Three Months Ended June 30, Six Months Ended June 30, 20252024% Change% Change (ex-FX)20252024% Change% Change (ex-FX)Streaming$293 $(107)NMNM$632 $(21)NMNMStudios863 210 NMNM1,122 394 NMNMStreaming & Studios eliminations(366)(27)NMNM(424)22 NMNMStreaming & Studios790 76 NMNM1,330 395 NMNMGlobal Linear Networks1,512 1,998 (24)%(25)%3,305 4,117 (20)%(19)%Corporate(316)(285)(11)%(9)%(549)(631)13 %14 %Other inter-segment eliminations (33)6 NMNM(28)16 NMNMAdjusted EBITDA$1,953 $1,795 9 %9 %$4,058 $3,897 4 %6 % 

36

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 June 30