
• Reported GAAP EPS of -$0.10 up 50.00% YoY • Reported revenue of $9.46B down -5.65% YoY
Bullish
Warner Bros. Discovery saw global streaming subscribers increase to 131.6 million, boosting streaming revenues by 4% ex-FX. Net loss improved to $252.0 million, and the company repaid $1.0 billion of debt.
Bearish
Warner Bros. Discovery reported a 7% ex-FX revenue decrease and a 20% ex-FX Adjusted EBITDA decline in Q4 2025. Free cash flow decreased 43% to $1.4 billion, and global streaming ARPU declined 9% ex-FX.