Warner Bros. Discovery
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Financial Performance
Revenue
$37.3B
Market Cap
$20.1B
Net Income
$727M
Employees
35,000
Warner Bros. Discovery is navigating one of the most catastrophic post-merger balance sheet crises in media history, furiously attempting to service its crushing $40+ billion debt load while simultaneously battling a structural collapse in linear cable revenues. Under CEO David Zaslav, the media conglomerate generated exactly $38.3 billion in revenue and maintains a severely depressed $20.1 billion market cap with exactly 35000 employees. The financial narrative in 2026 is entirely defined by debt paydown and critical Max streaming pivot; dismantling the disastrously expensive Discovery-WarnerMedia merger integration, WBD extracts remaining profitability from its iconic IP — Batman, Harry Potter, CNN — while furiously monetizing Max to replace evaporating cable fees before its debt covenants become existentially threatening.
Revenue Trend Analysis
YoY Change
-5%
2-Year CAGR
-5%
Peak Year
2023
Trend
Declining Trend
Warner Bros. Discovery has reported revenue across 3 fiscal years, compounding at -5% annually over 2 years. The most recent year saw a 5% decline versus the prior year. Revenue peaked in 2023 at $41.3B. Out of 2 reported periods, 0 showed growth and 2 showed a decline.
| Fiscal Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2025 | $37.3B | $727M | -5.0% |
| FY2024 | $39.3B | — | -4.9% |
| FY2023 | $41.3B | — | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.
Click any row to see year details.
Warner Bros. Discovery reported approximately $38.3B in fiscal year 2025 with a team of 35,000 employees worldwide.
Warner Bros. Discovery strategically balances reinvestment into core R&D with operational cost discipline, focusing on workflow automation to expand operating margins in 2026.
Financial performance in Media, Entertainment, Streaming, Networks, and Studio Content is driven by steady cash generation and pricing power, enabling Warner Bros. Discovery to reinvest in high-return strategic initiatives.
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Warner Bros. Discovery Revenue & Financials." CorpDigest, https://corpdigest.com/company/warner-bros-discovery/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Warner Bros. Discovery reported $37B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/warner-bros-discovery/financials" target="_blank" rel="noopener">CorpDigest — Warner Bros. Discovery financials</a></div>