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WBD

Warner Bros. Discovery's Q3 results fall short as revenues slip 6% year over year, but streaming and studios show solid momentum.

He still believes he can sell it for as much as $70 billion, or around $30 a share, On The Money has learned.

Warner Bros. Discovery is proceeding with plans to split into two companies. WBD's growth segments, particularly Streaming & Studios, now generate operating income that offsets the decline in the linear business. Management emphasizes that infrastructure investments and strategic execution are positioning WBD for future cash flow growth.

Warner Bros Discovery reported merger with Paramount-Skydance could generate meaningful cost synergies and create a scaled competitor with a deep and unmatched content library. Innovations in the Google Search experience are driving both engagement and revenue benefits for Alphabet. IQVIA's R&D solutions business showed signs of gaining share, with its win rate improving significantly.

Comcast has retained financial advisors and gained access to financial information as it explores a bid for Warner Bros Discovery's studio and streaming businesses, according to four sources familiar with the matter.

Ex one-time revenue charges, Warner Bros. Discovery, Inc.'s Q3 2025 results have reinforced its strategic appeal, especially given continued strength in Streaming share gains and monetization through robust ad-supported growth. The company's balance sheet is also making progress as FCF accretion expands, contributing favorably to its ongoing deleveraging efforts. Streaming and gaming have emerged as key differentiators, as they underscore WBD's growing IP monetization pipeline. This could further interest from potential suitors beyond Paramount-Skydance and boost WBD's valuation momentum.

Warner Bros. Discovery, Inc. ( WBD ) Q3 2025 Earnings Call November 6, 2025 8:00 AM EST Company Participants Andrew Slabin - Executive Vice President of Global Investor Strategy David Zaslav - President, CEO & Director Gunnar Wiedenfels - Senior VP Jean-Briac Perrette - President and CEO of Global Streaming & Games Conference Call Participants Jessica Reif Cohen - BofA Securities, Research Division Kannan Venkateshwar - Barclays Bank PLC, Research Division Robert Fishman - MoffettNathanson LLC Benjamin Swinburne - Morgan Stanley, Research Division Steven Cahall - Wells Fargo Securities, LLC, Research Division Ric Prentiss - Raymond James & Associates, Inc., Research Division Presentation Operator Ladies and gentlemen, welcome to the Warner Bros.

The headline numbers for Warner Bros. Discovery (WBD) give insight into how the company performed in the quarter ended September 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) (WBD) on Thursday reported third quarter 2025 revenue that declined 6% year over year to $9.05 billion, falling short of the $9.18 billion Wall Street forecast.   Box office receipts from DC's Superman, Weapons, and The Conjuring: Last Rites, however, fueled a 24% surge in the company's studio revenue during the quarter.

Chief Executive David Zaslav said the company's exploration of a possible sale of some or all of its holdings is briskly moving ahead.