Warner Bros. Discovery (WBD) Revenue — Quarter Ended Dec 31, 2025
Revenue for the quarter increased compared with the immediately preceding quarter but declined relative to the same quarter one year earlier. The sequential growth reversed the prior quarter’s drop, though the year‑over‑year comparison remained negative.
Key takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue for the quarter increased compared with the immediately preceding quarter but declined relative to the same quarter one year earlier. The sequential growth reversed the prior quarter’s drop, though the year‑over‑year comparison remained negative.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$9.5B
Revenue reported for this quarter.
Quarter-over-quarter
+4.6%
Change from the immediately preceding quarter.
Year-over-year
-5.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$37.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2025 | $9B | -9.8% |
| Jun 30, 2025 | $9.8B | +1.0% |
| Sep 30, 2025 | $9B | -6.0% |
| Dec 31, 2025 | $9.5B | -5.7% |
Revenue performance
The reported revenue rose from the prior quarter, reflecting a positive sequential trend. However, it was lower than the year‑ago period, indicating ongoing year‑over‑year contraction.
Quarterly comparison
When compared with the prior quarter, revenue improved, breaking a pattern of mixed quarterly changes. The year‑over‑year decrease, while still present, was less severe than the decline seen in the previous quarter.
What to watch
The revenue trajectory remains uneven, with sequential gains offset by persistent year‑over‑year declines.