Warner Bros. Discovery (WBD) Expected to Announce Quarterly Earnings on Thursday

Warner Bros. Discovery (NASDAQ:WBD) will likely be issuing its Q2 2026 results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of ($0.13) per share and revenue of $9.2366 billion for the quarter. Individuals may visit the the company’s upcoming Q2 2026 earning summary page for the latest details on the call scheduled for Thursday, August 6, 2026 at 8:00 AM ET.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the business posted ($0.18) earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts expect Warner Bros. Discovery to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Warner Bros. Discovery Stock Up 0.1%

Shares of WBD stock opened at $25.64 on Thursday. Warner Bros. Discovery has a 1 year low of $10.76 and a 1 year high of $30.00. The stock has a market cap of $64.28 billion, a PE ratio of -36.63 and a beta of 1.54. The business’s fifty day moving average is $26.62 and its 200-day moving average is $27.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of the stock. Swiss RE Ltd. purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at about $26,000. JPL Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter worth approximately $33,000. Advocate Investing Services LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $49,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $59,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Warner Bros. Discovery by 54.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 2,095 shares of the company’s stock valued at $60,000 after acquiring an additional 739 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery News Summary

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Paramount leadership continues to express confidence that its proposed acquisition of Warner Bros. Discovery will close. David Ellison reportedly told employees he remains confident in the deal, while TKO CEO Ari Emanuel argued that blocking the transaction could harm Hollywood. This supports the potential for a merger-related premium, although closing remains uncertain. David Ellison confident WBD deal will close Ari Emanuel warns blocking merger could hurt Hollywood
• Neutral Sentiment: Warner Bros. Discovery is receiving unusually high investor attention, but the search interest itself does not indicate a change in the company’s fundamentals or valuation. Wall Street price targets remain a key focus as investors assess the proposed transaction. Investors heavily search Warner Bros. Discovery Analysts’ target prices for WBD
• Negative Sentiment: Zacks Research downgraded WBD from “hold” to “strong sell,” creating a direct negative signal for the stock and potentially reinforcing concerns about valuation, losses and merger risk. Zacks downgrades Warner Bros. Discovery
• Negative Sentiment: The Paramount-WBD transaction continues to face legal and political opposition, including a state antitrust lawsuit and resistance from SAG-AFTRA. Reports that some Warner Bros. executives hope the lawsuit blocks the deal highlight internal uncertainty and raise the risk of delay, added costs or a failed transaction. SAG-AFTRA opposes Paramount-WBD deal Warner Bros. executives and antitrust lawsuit
• Negative Sentiment: Warner Bros. Discovery sued Amazon, accusing the company of unlawfully recruiting executives. The litigation could increase legal expenses and distract management, while the loss of senior talent may create operational and strategic risk. Warner Bros. sues Amazon over executive poaching

Analyst Upgrades and Downgrades

WBD has been the subject of several research reports. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Zacks Research lowered shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.