Filing Flows › Warner Bros. Discovery (WBD) › Q1 2026 › vs Q1 2025
Warner Bros. Discovery (WBD) Q1 2026 vs Q1 2025 (year over year)
Warner Bros. Discovery's revenue fell $86.0M (-1%) from $9.0B in Q1 2025 to $8.9B in Q1 2026. The biggest changes: Advertising −$133M (-7%); Content +$21.0M (+1%); Distribution +$20.0M (+0.4%).
Warner Bros. Discovery, Q1 2026: revenue $8.9B (-1% year over year), operating margin -27.8%, net loss $2.9B, operating cash flow −$208M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Distribution | $4.9B | $4.9B | $20.0M | +0.4% |
| Content | $1.9B | $1.9B | $21.0M | +1% |
| Advertising | $1.8B | $2.0B | −$133M | -7% |
| Other | $253M | $247M | $6.0M | +2% |
| Revenue | $8.9B | $9.0B | −$86.0M | -1% |
| Income tax benefit | $214M | −$15.0M | $229M | — |
| Net loss | $2.9B | $449M | $2.5B | +547% |
| Costs & expenses | $12.0B | $9.4B | $2.6B | +27% |
| Operating costs | $11.4B | $9.0B | $2.3B | +26% |
| Interest & other, net | $651M | $397M | $254M | +64% |
| Cost of revenue | $4.6B | $5.1B | −$488M | -10% |
| SG&A | $2.5B | $2.2B | $281M | +13% |
| Other operating costs | $4.2B | $1.7B | $2.6B | +151% |
| Operating cash sources | $2.9B | $449M | $2.5B | +547% |
| Depreciation & amortization | $1.2B | $1.5B | −$321M | -21% |
| Share-based compensation | $152M | $123M | $29.0M | +24% |
| Working capital & other | $1.3B | −$668M | $2.0B | — |
| Cash used in operations | $208M | −$553M | $761M | — |
| Net loss absorbed | $2.9B | $449M | $2.5B | +547% |
Questions
How much did Warner Bros. Discovery's revenue grow year over year in Q1 2026?
Warner Bros. Discovery's revenue fell $86.0M (-1%) from $9.0B in Q1 2025 to $8.9B in Q1 2026.
What drove Warner Bros. Discovery's revenue change in Q1 2026?
Advertising −$133M (-7%); Content +$21.0M (+1%); Distribution +$20.0M (+0.4%).