What to Expect From Warner Bros' Q2 2025 Earnings Report

New York-based Warner Bros. Discovery, Inc. (WBD) operates as a media and entertainment company worldwide. Valued at $29.5 billion by market cap, the company operates through Studios, Network, and DTC segments. The media giant is expected to release its Q2 results before the markets open on Thursday, Aug. 7.

Ahead of the event, analysts expect WBD to report a loss of $0.15 per share, notably down from the loss of $4.07 per share reported in the year-ago quarter. While the company has surpassed the Street’s bottom-line projections once over the past four quarters, it has missed the estimates on three other occasions.

For the full fiscal 2025, analysts expect WBD to report a loss of $0.04 per share, notably down from the $4.62 loss per share reported in fiscal 2024. In fiscal 2026, its earnings are expected to experience a significant boost and come in at $0.16 per share.

WBD stock has soared 57.6% over the past 52 weeks, notably outperforming the Communication Services Select Sector SPDR ETF Fund’s (XLC) 22.4% surge and the S&P 500 Index’s ($SPX) 10.5% gains during the same time frame.

Despite missing the Street’s expectations, Warner Bros’ stock prices increased 5.3% following the release of its Q1 results on May 8. Due to a significant drop in its content revenues, along with a dip in revenues from distribution, advertising, and others, Warner’s overall topline declined 9.8% year-over-year to $8.98 billion. This figure fell short of the Street’s projections by a large margin. Furthermore, its loss per share of $0.18 also missed analysts' consensus estimates by a significant margin.

Meanwhile, its global average revenue per user dropped from $7.83 in Q1 2024 to $7.11. However, its global streaming subscription increased by an impressive 22.8% year-over-year to 122.3 million, which likely caught investor attention.

The stock maintains a consensus “Moderate Buy” rating overall. Of the 26 analysts covering the WBD stock, opinions include 12 “Strong Buys,” one “Moderate Buy,” and 13 “Holds.” As of writing, the stock is trading below its mean price target of $13.12.