Warner Bros. Discovery, Inc. · WBD · Next earnings

Warner Bros. Discovery, Inc. reports Thursday, Nov 5, 2026

WBD reports before market open with consensus EPS at $-0.04 and revenue at $8.74B. Last quarter: WBD’s streaming turnaround strengthens, but execution risks remain

Reports Before market open0 days awayDate estimated Communication Services

What the street expects

Consensus for the coming report
Consensus EPS $-0.04 Calendar consensus
Consensus revenue $8.74B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 0 days away

Where WBD left off: FY2026 Q2

Full report

WBD’s streaming turnaround strengthens, but execution risks remain

EPS surprise +142.7% Reported $0.06 vs $-0.14
Revenue surprise -5.8% Reported $8.72B vs $9.25B
Stock move +1.7% Event window
Subsequent drift +7.5% Up to 20 sessions

Maintained; management continued to express confidence in the existing studio EBITDA objective and broader strategy.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Paramount Skydance transaction delay or failure.
  • Underperformance of the 2026 film slate.
  • Continued linear advertising weakness.
  • Geopolitical or consumer weakness in international markets.

Questions analysts left open

  • Achieving the $3 billion studio EBITDA target.
  • Sustaining the planned 2026 and 2027 film slate.
  • Linear advertising weakness and NBA scheduling effects.
  • Execution risk if the Paramount Skydance transaction is delayed or fails.

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Recent WBD quarters

All WBD earnings
+1.7%FY2026 Q2-0.3%FY2026 Q1-0.9%FY2025 Q4-1.5%FY2025 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.