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WBD

Warner Bros. Discovery, Inc.

NasdaqResearch view

Warner Bros. Discovery, Inc. operates in the Cable & Other Pay Television Services industry.

$30.94−0.03%

Oct 2 close · 1D EOD · Databento

Communication ServicesCable & Other Pay Television ServicesLarge-capSEC EDGAR FY 2025-12-31

What happened

Daily closes · dots are Wire stories

After a story on WBD, the first close moved a median +0.26%. Up 10 of 11; over the three sessions after that, a median +0.13%.

DateEventSourceNext close

Sep 24Panic At CNN As Paramount Seeks Elon Musk Equity InvestmentZeroHedgeZeroHedge+0.26%
Sep 22Paramount wins over US states — but can it win over the bond market?Financial TimesFinancial Times+0.10%
Sep 22The ‘Kid’ Takes Over: David Ellison Becomes a Hollywood ColossusNYT BusinessNYT Business+0.10%
Sep 21Warner Bros, Paramount Jump After Settling Lawsuits With California And Other StatesZeroHedgeZeroHedge+10.79%
Sep 18Paramount in advanced talks to settle Warner Bros. Discovery deal lawsuit - WSJInvesting.comInvesting.com+10.79%
Sep 15US DoJ backs bond demand in Paramount-Warner Bros antitrust fightInvesting.comInvesting.com+0.14%
Aug 28Paramount Skydance (PSKY) & Warner Bros (WBD): Paramount Wants to Settle With 12 States. It’s Also Demanding They Post a $1.9 Billion BondYahoo FinanceYahoo Finance−0.38%
Aug 24California cancels talks with Paramount over Warner Bros dealReutersReuters+0.53%
Aug 6Earnings release, before the open · 8-KSEC EDGARSEC EDGAR ↗+1.66%

Next close = the first close after the event against the close before it. Prior-session closes only; not a call, not advice.All 11 stories →

What happened · big days

33 big days in a year, and what we hold on each

A big day is a close more than 2.02% from the one before, three times WBD’s median day (0.67%). On 7 of the 33, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±2.02%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayWBDWhat we hold that dayGroup (median of 4) · each

1 Oct 7, 2025−2.52%
Before our storiesgroup −1.9%, moved with WBD
1Oct 7, 2025−2.52%
Before our stories
−1.9% moved with WBDROKU −2.9 · CHTR −2.2 · CMCSA −1.6 · LBTYA −0.5
2 Oct 8, 2025−3.82%
Before our storiesgroup −0.8%, did not move with it
2Oct 8, 2025−3.82%
Before our stories
−0.8% did not move with itROKU −1.9 · LBTYA −0.9 · CHTR −0.8 · CMCSA +0.6
3 Oct 10, 2025−3.23%
Before our storiesgroup −2.3%, moved with WBD
3Oct 10, 2025−3.23%
Before our stories
−2.3% moved with WBDROKU −5.3 · LBTYA −2.5 · CHTR −2.1 · CMCSA −2.1
4 Oct 13, 2025+3.98%
Before our storiesgroup +0.9%, did not move with it
4Oct 13, 2025+3.98%
Before our stories
+0.9% did not move with itLBTYA +3.6 · ROKU +2.0 · CMCSA −0.2 · CHTR −0.3
5 Oct 15, 2025+2.61%
Before our storiesgroup +0.2%, did not move with it
5Oct 15, 2025+2.61%
Before our stories
+0.2% did not move with itROKU +4.4 · LBTYA +1.1 · CHTR −0.6 · CMCSA −0.9
6 Oct 21, 2025+10.97%
Before our storiesgroup +0.8%, did not move with it
6Oct 21, 2025+10.97%
Before our stories
+0.8% did not move with itCMCSA +1.4 · ROKU +1.3 · CHTR +0.4 · LBTYA −1.0
7 Oct 23, 2025+3.51%
Before our storiesgroup −0.4%, did not move with it
7Oct 23, 2025+3.51%
Before our stories
−0.4% did not move with itROKU +2.3 · CMCSA −0.3 · CHTR −0.4 · LBTYA −0.8
8 Oct 31, 2025+3.84%
Before our storiesgroup +1.6%, did not move with it
8Oct 31, 2025+3.84%
Before our stories
+1.6% did not move with itROKU +6.1 · CMCSA +1.9 · CHTR +1.3 · LBTYA +0.3
9 Nov 12, 2025−3.73%
Before our storiesgroup +0.6%, did not move with it
9Nov 12, 2025−3.73%
Before our stories
+0.6% did not move with itROKU −0.8 · LBTYA −0.5 · CMCSA +1.6 · CHTR +1.8
10 Nov 14, 2025+4.02%
Before our storiesgroup −0.9%, did not move with it
10Nov 14, 2025+4.02%
Before our stories
−0.9% did not move with itROKU −0.2 · CHTR −0.8 · LBTYA −0.9 · CMCSA −1.6
11 Nov 18, 2025+4.18%
Before our storiesgroup −0.0%, did not move with it
11Nov 18, 2025+4.18%
Before our stories
−0.0% did not move with itLBTYA +2.9 · CMCSA +0.5 · CHTR −0.6 · ROKU −1.7
12 Nov 19, 2025−2.53%
Before our storiesgroup −2.0%, moved with WBD
12Nov 19, 2025−2.53%
Before our stories
−2.0% moved with WBDCHTR −3.2 · ROKU −2.3 · CMCSA −1.8 · LBTYA −0.6
13 Nov 26, 2025+4.01%
Before our storiesgroup +0.1%, did not move with it
13Nov 26, 2025+4.01%
Before our stories
+0.1% did not move with itROKU +0.8 · LBTYA +0.5 · CMCSA −0.4 · CHTR −0.5
14 Dec 2, 2025+2.76%
Before our storiesgroup +1.0%, did not move with it
14Dec 2, 2025+2.76%
Before our stories
+1.0% did not move with itROKU +1.8 · CMCSA +1.7 · CHTR +0.4 · LBTYA 0.0
15 Dec 5, 2025+6.28%
Before our storiesgroup +2.5%, did not move with it
15Dec 5, 2025+6.28%
Before our stories
+2.5% did not move with itROKU +5.9 · CHTR +2.6 · LBTYA +2.4 · CMCSA +0.4
16 Dec 8, 2025+4.41%
Before our storiesgroup −0.8%, did not move with it
16Dec 8, 2025+4.41%
Before our stories
−0.8% did not move with itROKU +1.6 · CHTR −0.2 · LBTYA −1.3 · CMCSA −2.4
17 Dec 9, 2025+3.78%
Before our storiesgroup +0.4%, did not move with it
17Dec 9, 2025+3.78%
Before our stories
+0.4% did not move with itROKU +3.8 · CMCSA +0.5 · CHTR +0.2 · LBTYA −3.0
18 Dec 10, 2025+4.49%
Before our storiesgroup +3.0%, moved with WBD
18Dec 10, 2025+4.49%
Before our stories
+3.0% moved with WBDCHTR +4.0 · CMCSA +3.0 · LBTYA +3.0 · ROKU −0.2
19 Dec 16, 2025−2.73%
Before our storiesgroup +1.4%, did not move with it
19Dec 16, 2025−2.73%
Before our stories
+1.4% did not move with itLBTYA −1.8 · CHTR +0.8 · ROKU +1.9 · CMCSA +5.4
20 Dec 17, 2025−2.39%
Before our storiesgroup −0.7%, did not move with it
20Dec 17, 2025−2.39%
Before our stories
−0.7% did not move with itROKU −3.1 · CHTR −0.8 · LBTYA −0.5 · CMCSA +2.0
21 Dec 18, 2025−2.13%
Before our storiesgroup −0.4%, did not move with it
21Dec 18, 2025−2.13%
Before our stories
−0.4% did not move with itCHTR −1.5 · LBTYA −0.6 · CMCSA −0.2 · ROKU +3.0
22 Dec 22, 2025+3.53%
Before our storiesgroup +0.6%, did not move with it
22Dec 22, 2025+3.53%
Before our stories
+0.6% did not move with itROKU +0.9 · LBTYA +0.7 · CHTR +0.5 · CMCSA −1.1
23 Feb 6, 2026+2.24%
Before our storiesgroup +2.5%, moved with WBD
23Feb 6, 2026+2.24%
Before our stories
+2.5% moved with WBDLBTYA +4.3 · CHTR +3.4 · CMCSA +1.7 · ROKU −0.2
24 Feb 10, 2026+2.17%
Before our storiesgroup +2.5%, moved with WBD
24Feb 10, 2026+2.17%
Before our stories
+2.5% moved with WBDCHTR +4.2 · ROKU +2.7 · CMCSA +2.2 · LBTYA −0.4
25 Feb 17, 2026+2.72%
Before our storiesgroup −0.5%, did not move with it
25Feb 17, 2026+2.72%
Before our stories
−0.5% did not move with itLBTYA +2.5 · CMCSA −0.1 · CHTR −0.9 · ROKU −1.6
26 Feb 27, 2026−2.19%
Before our storiesgroup +2.3%, did not move with it
26Feb 27, 2026−2.19%
Before our stories
+2.3% did not move with itCMCSA +0.4 · LBTYA +1.8 · CHTR +2.7 · ROKU +5.3
27 Jun 5, 2026−2.81%
Before our storiesgroup +1.6%, did not move with it
27Jun 5, 2026−2.81%
Before our stories
+1.6% did not move with itROKU −2.6 · LBTYA +1.1 · CMCSA +2.1 · CHTR +2.4
28 Jun 11, 2026+2.40%
Nothing on WBDgroup +1.6%, moved with WBD
28Jun 11, 2026+2.40%
Nothing on WBDNo WBD story, brief or results filing in our record that day
+1.6% moved with WBDROKU +2.3 · LBTYA +2.1 · CHTR +1.0 · CMCSA 0.0
29 Jun 22, 2026+2.86%
Nothing on WBDgroup −1.0%, did not move with it
29Jun 22, 2026+2.86%
Nothing on WBDNo WBD story, brief or results filing in our record that day
−1.0% did not move with itCMCSA −0.5 · CHTR −0.6 · LBTYA −1.5 · ROKU −2.1
30 Jul 20, 2026−3.76%
Nothing on WBDgroup −0.6%, did not move with it
30Jul 20, 2026−3.76%
Nothing on WBDNo WBD story, brief or results filing in our record that day
−0.6% did not move with itCHTR −1.7 · LBTYA −1.0 · ROKU −0.2 · CMCSA −0.0
31 Jul 31, 2026+3.26%
Nothing on WBDgroup +1.4%, did not move with it
31Jul 31, 2026+3.26%
Nothing on WBDNo WBD story, brief or results filing in our record that day
+1.4% did not move with itCHTR +2.1 · LBTYA +1.6 · CMCSA +1.2 · ROKU −0.1
32 Aug 12, 2026+2.14%
Nothing on WBDgroup −0.1%, did not move with it
32Aug 12, 2026+2.14%
Nothing on WBDNo WBD story, brief or results filing in our record that day
−0.1% did not move with itLBTYA +2.3 · ROKU +0.6 · CMCSA −0.7 · CHTR −4.7
33 Sep 21, 2026+10.79%
2 storiesgroup +0.7%, did not move with it
33Sep 21, 2026+10.79%
2 stories “Warner Bros, Paramount Jump After Settling Lawsuits With California And Other States” · ZeroHedge
+0.7% did not move with itLBTYA +1.2 · CMCSA +0.8 · ROKU +0.5 · CHTR −3.8

A story on the same day is not a cause, and a group move is not proof either. Group: the median of CMCSA, ROKU, CHTR and LBTYA that day, the largest companies in WBD’s SEC industry; “moved with WBD” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. Each time, day 6 ended on the same side as day 1.

Reported Nov 6, 2025

day 1−1.49%day 6−2.72%

Reported Feb 26, 2026

day 1−0.35%day 6−3.11%

Reported May 6, 2026

day 1−0.29%day 6−0.29%

Reported Aug 6, 2026

day 1+1.66%day 6+6.85%

Next report: expected early NovemberEstimated from the dates of its last four results filings. Not announced. Since the Aug 6 report: +19.14%. Four reports is a small sample.

Every report since 2022 →

Each line is WBD’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

The numbers · FY2025, filed

SEC EDGAR

Market cap$77.7B

Revenue$37.3B−5.10%

Net income$727.0M

EPS, diluted$0.29+106.30%

Operating margin2.0%

Return on equity2.0%

Debt / equity0.88

All filed figures

Snapshot

SEC EDGAR · FY 2025-12-31

SectorCommunication Services

Market Cap$77.7B

Enterprise Value$105.8B

Income$727.0M

Sales$37.3B

Book/sh$14.80

Cash/sh$1.82

Dividend TTM—

Payout—

Employees—

IPO—

Quick Ratio1.04

Current Ratio1.06

Debt/Eq0.88

EPS (ttm)$0.29

EPS this Y106.3%

EPS past 3/5Y—

Sales past 3/5Y3.3%

EPS Y/Y TTM106.3%

Sales Y/Y TTM-5.1%

Shs Outstand2.51B

ROA0.7%

ROE2.0%

ROIC0.5%

Gross Margin—

Oper. Margin2.0%

Profit Margin1.9%

Every figure here is filed with the SEC. Valuation and estimate metrics (P/E, PEG, EV/EBITDA, price targets, forward EPS) are omitted until our market-data feed is licensed for display — we’d rather show fewer numbers than blank ones. Deeper lines (cash flow, balance sheet) below.

Revenue by fiscal year

$12.2B

FY21

$33.8B

FY22

$41.3B

FY23

$39.3B

FY24

$37.3B

FY25

Operating leverage — margins

GrossOperatingNet

Financials, annual · income and cash flowSEC EDGAR · open ▸

Financials — annual

SEC EDGAR · last 5 FY · tap a row to explain it

USD	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$12.2B	$33.8B	$41.3B	$39.3B	$37.3B
Gross Profit	—	—	—	—	—
Operating Income	$2.0B	$-7.4B	$-1.5B	$-10.0B	$738.0M
Net Income	$1.0B	$-7.4B	$-3.1B	$-11.3B	$727.0M
Diluted EPS	$1.54	$-3.82	$-1.28	$-4.62	$0.29
Operating Cash Flow	$2.8B	$4.3B	$7.5B	$5.4B	$4.3B
Free Cash Flow	$2.4B	$3.3B	$6.2B	$4.4B	$3.1B

Same industry

WBD against four same-industry peers, a year at 100

WBD is up 62.9% in a year. All four did less: Roku (+46.7%), Liberty Global (−24.2%), Comcast (−30.2%) and Charter Communications (−61.0%). Weekly closes, Oct 3, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

Share this chart

WBD +62.9%. Roku +46.7%, Liberty Global −24.2%, Comcast −30.2%, Charter Communications −61.0%. Weekly closes, Oct 3, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in WBD’s SEC industry (Cable & Other Pay Television Services) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

Same industry

In the screener →

CMCSA$80.0B ROKU$23.0B CHTR$15.1B LBTYA$3.1B ADEA$2.8B LILA$1.7B GLIBA$718M AMCX$632M

Build basket with WBD Screener

Fundamentals sourced from SEC EDGAR filings (public domain). For informational purposes only. Not investment advice.

WBD

What happened

33 big days in a year, and what we hold on each

Before the next report: what the first day after the last four did

The numbers · FY2025, filed

Snapshot

Revenue by fiscal year

Operating leverage — margins

Financials — annual

WBD against four same-industry peers, a year at 100

Same industry

What happened

What’s next

33 big days in a year, and what we hold on each

Before the next report: what the first day after the last four did

WBD against four same-industry peers, a year at 100

What’s next

The record, by topic · 90 days

What’s next