Short answer
Warner Bros. Discovery (WBD) filed its Q1 2026 10-Q quarterly report on May 6, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $8.9B (down 1.0% year over year) with net income of −$2.9B.
Q1 2026 key financials · XBRL
- Revenue
- $8.9B
- −1.0% YoY
- Net income
- −$2.9B
- −543.7% YoY
- Operating margin
- -27.8%
- EPS (diluted)
- −$1.17
- −550.0% YoY
Source: XBRL data from the Warner Bros. Discovery (WBD) Q1 2026 10-Q on SEC EDGAR. USD.
Warner Bros. Discovery Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $8.893B, down 1% YoY from $8.979B; advertising fell 7% to $1.847B
- Net loss $2.916B vs $453M; operating loss $2.469B vs $37M, including $2.8B Netflix termination fee
- Best segment Studios: revenue $3.125B, up 35%; Adjusted EBITDA $775M vs $259M
- Worst segment Global Linear Networks: revenue $4.377B, down 8%; Adjusted EBITDA $1.634B vs $1.793B
- Cash deployment included $2.8B Netflix termination fee; headwinds from linear subscriber declines, advertising softness, and potential tariffs
Risk Factors
- No risk-factors section provided; submitted text contains only trading-arrangement disclosures and exhibits
- Newly disclosed Rule 10b5-1 plans: four executives, including CEO David Zaslav’s 4,572,448-share arrangement
- Regulatory disclosure risk: Item 408(a) reporting triggered by executive trading arrangements adopted in March 2026
- Financial risk: Bridge Loan Agreement amendment dated February 18, 2026
- Transaction risk: Merger agreements with Netflix and Paramount Skydance dated January 19 and February 27, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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