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Warner Bros. Discovery (WBD) Q4 FY25 earnings call

Earnings call· Dec 2025 (Q4 FY25)· Communication Services· Feb 26, 2026

Source: earnings call transcript

Warner Bros. Discovery reported a quarter marked by a creative renaissance across its film and television studios, driving strong streaming subscriber growth and resilient linear network performance. The company is aggressively investing in original content and iconic IP, while strategically navigating the spin-off of Discovery Global and evaluating sales processes to maximize shareholder value. Management expressed confidence in the future profitability of its streaming business and the sustainability of Discovery Global's leverage profile.

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WBD operating KPIs by quarter

WBD operating KPIs stated on its earnings calls, by fiscal quarter
KPI Dec 2024 Q4 FY24 Mar 2025 Q1 FY25Change vs prior quarter
Paid subscriber net additions Direct-to-Consumer
~6.5M We added about 6.5 million subscribers in the fourth quarter and nearly 20 million subscribers in less than a year. Source: earnings call transcript
5M+ And in the first quarter, we gained over 5 million subscribers and delivered $339 million in EBITDA. Source: earnings call transcript
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Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.