Warner Bros. Discovery Misses Q2 Revenue at $8.7 Billion as Supergirl Flops and NBA Loss Bites
Updated
Updated · Deadline · Aug 6
Warner Bros. Discovery Misses Q2 Revenue at $8.7 Billion as Supergirl Flops and NBA Loss Bites
1 articles · Updated · Deadline · Aug 6
Summary
Warner Bros. Discovery posted Q2 revenue of $8.7 billion, down 11% and below the $9.2 billion analysts expected, though diluted EPS of 6 cents beat forecasts for a 10-cent loss.
Supergirl and the loss of NBA rights drove the miss: studio revenue fell 39% to $2.3 billion after the film grossed just $126 million worldwide, while advertising revenue dropped 22% to $1.7 billion.
Global Linear Networks revenue slid 17% to $3.99 billion as NBCUniversal replaced WBD as a primary NBA partner, ending nearly 40 years of the company broadcasting the league.
Streaming partly offset the weakness, with revenue up 10% to $3.1 billion and EBITDA jumping 75% to $512 million, helped by HBO Max expansion and series including Euphoria and House of the Dragon.
The results arrive as WBD's $110 billion Paramount merger faces an antitrust lawsuit from 12 state attorneys general and the Writers Guild, with trial set for March 2027.