Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 153

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 153
---
1)%Depreciation and amortization1,375 1,762 (22)%(22)%4,369 5,394 (19)%(19)%Restructuring and other charges88 9 NMNM222 161 38 %38 %Impairments and loss on dispositions46 5 NMNM162 9,412 (98)%(98)%Total costs and expenses8,434 9,342 (10)%(10)%27,447 39,488 (30)%(31)%Operating income (loss)611 281 NMNM389 (10,194)NMNMInterest expense, net(570)(494)(1,501)(1,527)(Loss) gain on extinguishment of debt, net(1)23 2,953 590 Income (loss) from equity investees, net17 (18)15 (89)Other (expense) income, net(30)30 191 188 Income (loss) before income taxes27 (178)2,047 (11,032)Income tax (expense) benefit(170)319 (1,051)190 Net (loss) income(143)141 996 (10,842)Net income attributable to noncontrolling interests(4)(3)(19)(20)Net (income) loss attributable to redeemable noncontrolling interests(1)(3)2 45 Net (loss) income available to Warner Bros. Discovery, Inc.$(148)$135 $979 $(10,817)

NM - Not meaningful 

34

Unless otherwise indicated, the discussion of percent changes below is on an ex-FX basis. The ex-FX percent changes of line items below operating loss in the table above are not included as the activity is principally in U.S. dollars.

Revenues

Distribution revenue decreased 4% and 2% for the three and nine months ended September 30, 2025, respectively, primarily attributable to a 9% decline in domestic linear subscribers for the three and nine months ended September 30, 2025, and the first full quarter impact of the previously disclosed domestic wholesale streaming deal renewal, partially offset by a 16% increase in Streaming subscribers for the three and nine months ended September 30, 2025 as a result of continued global expansion of HBO Max, including new distribution deals, and a 2% increase in domestic affiliate rates for