Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming. The Network segment comprises domestic and international television networks. The DTC segment offers premium pay-tv and streaming services. In addition, the company offers portfolio of content, brands, and franchises across television, film, streaming, and gaming under the Warner Bros. Motion Picture Group, Warner Bros. Television Group, DC, HBO, HBO Max, Max, Discovery Channel, discovery+, CNN, HGTV, Food Network, TNT Sports, TBS, TLC, OWN, Warner Bros. Games, Batman, Superman, Wonder Woman, Harry Potter, Looney Tunes, Hanna-Barbera, Game of Thrones, and The Lord of the Rings brands. Further, it provides content through distribution platforms, including linear network, free-to-air, and broadcast television; authenticated GO applications, digital distribution arrangements, content licensing arrangements, and direct-to-consumer subscription products. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Warner Bros. Discovery, Inc.

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Gross Profit

Adjusted Net Income

Net Revenue

Net Income

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Streaming Adjusted EBITDA

Streaming Adjusted EBITDA % Chg.

Studios Adjusted EBITDA

Studios Adjusted EBITDA % Chg.

Global Linear Networks Adjusted EBITDA

Global Linear Networks Adjusted EBITDA % Chg.

Corporate Adjusted EBITDA

Corporate Adjusted EBITDA % Chg.

Eliminations from Adjusted EBITDA

Eliminations from Adjusted EBITDA % Chg.

Total Adjusted EBITDA

Total Adjusted EBITDA Common Size

Total Adjusted EBITDA % Chg.

Domestic Subscribers

Domestic Subscribers % Chg.

International Subscribers

International Subscribers % Chg.

Global Streaming Subscribers

Global Streaming Subscribers % Chg.

Key Performance Indicators

Distribution Revenue

Distribution Revenue % Chg.

Distribution Revenue Common Size

Advertising Revenue

Advertising Revenue % Chg.

Advertising Revenue Common Size

Content Revenue

Content Revenue % Chg.

Content Revenue Common Size

Other Sources Revenue

Other Sources Revenue % Chg.

Other Sources Revenue Common Size

Total Revenue

Total Revenue Common Size

Total Revenue % Chg.

Streaming Revenue

Streaming Revenue % Chg.

Streaming Revenue Common Size

Studios Revenue

Studios Revenue % Chg.

Studios Revenue Common Size

Global Linear Networks Revenue

Global Linear Networks Revenue % Chg.

Global Linear Networks Revenue Common Size

Eliminations from Revenue

Eliminations from Revenue % Chg.

Eliminations from Revenue Common Size

Domestic ARPU

Domestic ARPU % Chg.

International ARPU

International ARPU % Chg.

Global ARPU

Global ARPU % Chg.

Revenue	Sep '25	Jun '25
Distribution Revenue	4,702	4,885
Advertising Revenue	1,407	2,216
Content Revenue	2,649	2,471
Other Sources Revenue	287	240
Total Revenue	9,045	9,812

Revenue	Sep '25	Jun '25
Streaming Revenue	2,633	2,793
Studios Revenue	3,321	3,801
Global Linear Networks Revenue	3,883	4,803
Eliminations from Revenue	-792	-1,585
Total Revenue	9,045	9,812

Adjusted EBITDA	Sep '25	Jun '25
Streaming Adjusted EBITDA	345	293
Studios Adjusted EBITDA	695	863
Global Linear Networks Adjusted EBITDA	1,702	1,512
Corporate Adjusted EBITDA	-258	-316
Eliminations from Adjusted EBITDA	-13	-399
Total Adjusted EBITDA	2,471	1,953

Key Performance Indicators	Sep '25	Jun '25
Domestic Subscribers	58	57.8
International Subscribers	70	67.9
Global Streaming Subscribers	128	125.7
Domestic ARPU	10.4	11.2
International ARPU	3.7	3.9
Global ARPU	6.6	7.1