WBD · Warner Bros. Discovery, Inc.
$28.90
+0.20 (+0.70%)
At close · Aug 25
Market Cap
$72.06B
Shares
2.51B
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$28.90
Open$28.83
Day$28.68–28.98
52W close$11.62–29.98
Avg vol 30d23.1M
Short int56.3M · 2.2% float · 2.8d
Short vol34%
Last earningsAug 6, 2026
DataJan 2020–Aug 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 6, 2026
Est · unconfirmed
· in 10 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 6, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Buy
SellHoldBuy
Technical
Buy
Momentum
Strong
Sentiment
Neutral
Fundamentals
Excellent
Quant / Vol
Low
Market backdrop
VIX 15.5 · calm
Equity put/call 0.57
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+7%
above
Price vs 50-day avg
+8%
above
RSI (14)
72
overbought
MACD trend
Positive
52-week position
94%
near high
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+13%
trailing
6-month return
+3%
trailing
YTD return
0%
this year
Relative strength
−8%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $27 › 200d $27 — 200d above 50d
Institutional flow
Distributing
-1% holders QoQ · +117 funds added
Insider flow
Distributing
Net -$21.8M over 90 days · 100% sells
Short interest
Falling
2.24% of float · ▼ -22.0% MoM · 2.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,313 holders — near 3-yr high, broad support
Squeeze score
48
elevated · 0–100
Fundamentals
Revenue growth
+54%
Y/Y
EPS growth
+106%
Y/Y
Free cash flow
$3.1B
Buyback
$3.0B
authorized
Balance sheet
$9.9B
net debt
Quant / Vol
risk profile
Volatility
43%
annualized · 1-yr
Max drawdown
−16%
past year
ATR
1.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Jun 30, 2026
Adjusted EBITDA
· over the long term
at least $3B
Prior guidance
period ended
· from the 8-K filed Feb 26, 2026
Global Linear Networks advertising revenue ex-FX headwind from t
· first quarter 2026
7%
Global Linear Networks advertising revenue ex-FX headwind from t
· second quarter 2026
20%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+7%
Bullish
Price vs 50-day avg
+8%
Bullish
RSI (14)
72
Bearish
MACD trend
Positive
Bullish
52-week position
94%
Bullish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $27 › 200d $27 — 200d above 50d
Institutional flow
Distributing
-1% holders QoQ · +117 funds added
Insider flow
Distributing
Net -$21.8M over 90 days · 100% sells
Short interest
Falling
2.24% of float · ▼ -22.0% MoM · 2.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,313 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $12
Now $29 · 94%
Range high $30
vs 200-day avg +7%
vs 50-day avg +8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $1.88B | Three Months Ended June 30, 2026 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP Net income available to Warner Bros. Discovery, Inc. $149M
+$0M Net income attributable to redeemable noncontrolling interests
+$13M Net income attributable to noncontrolling interests
-$433M Income tax (benefit) expense
-$50M Other income, net
-$28M Income from equity investees, net
+$75M Loss (gain) on extinguishment of debt, net
+$511M Interest expense, net
+$1.16B Depreciation and amortization
+$77M Impairment and amortization of fair value step-up for content
+$113M Restructuring and other charges
+$187M Employee share-based compensation
+$72M Transaction and integration costs
+$23M Impairments and loss on dispositions
+$11M Amortization of capitalized interest for content
+$0M Facility consolidation costs
= Adjusted EBITDA $1.88B
|
|||
| Adjusted EBITDA - Inter-segment eliminations non-GAAP | $123M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Operating income (loss) 123M
-2M Depreciation and amortization
+2M Impairment and amortization of fair value step-up for content
= Adjusted EBITDA - Inter-segment eliminations 123M
|
|||
| Advertising results ex-FX year-over-year headwind (NBA absence) | 20% | Q2 2026 | — |
| CNN linear viewership growth | 24% | Q2 2026 | — |
| CNN total minutes spent growth | 19% | Q2 2026 | — |
| Free cash flow non-GAAP | $572M | Three Months Ended June 30, 2026 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP Cash provided by operating activities $848M
-$276M Purchases of property and equipment
= Free cash flow $572M
|
|||
| general entertainment delivery growth | 5% | Q2 2026 | — |
| Global Linear Networks Adjusted EBITDA non-GAAP | $1.45B | Three Months Ended June 30, 2026 | — |
|
|
|||
| MLB viewership growth | 23% | Q2 2026 | — |
| NCAA Final Four/Championship advertising ex-FX benefit | 4% | Q2 2026 | — |
| NCAA title game viewership | 18M | Q2 2026 | — |
| Net debt | $30B | Q2 FY2026 | — |
|
|
|||
| NHL postseason viewership growth | 50% | Q2 2026 | — |
| NHL regular season viewership growth | 21% | Q2 2026 | — |
| Operating expenses decline ex-FX | 23% | Q2 2026 | — |
| Operating expenses decline ex-FX year-to-date | 16% | H1 2026 | — |
| Streaming Adjusted EBITDA non-GAAP | $512M | Three Months Ended June 30, 2026 | — |
| Studios Adjusted EBITDA non-GAAP | $96M | Three Months Ended June 30, 2026 | — |
|
|
|||
| Trailing four quarters Adjusted EBITDA (used for net leverage) non-GAAP | $8.8B | Q2 2026 | — |
|
|
|||
| Transaction-related expenses | $350M | Q2 2026 | — |
| Average primetime viewership growth - TBS | 16% | Q1 2026 | — |
| Average primetime viewership growth - TLC | 19% | Q1 2026 | — |
| Gross debt non-GAAP | $33.4B | Q1 2026 | — |
| Subscriber-related revenue growth ex-FX | 8% | Q1 2026 | — |
| Domestic ARPU | $10.45 | Q4 2025 | — |
| Domestic subscribers | 59.2M | Q4 2025 | — |
| Global streaming subscribers | 131.6M | Q4 2025 | — |
| International subscribers | 72.4M | Q4 2025 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Entertainment — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
WBD
this stock
Warner Bros. Discovery, Inc.
|
$72.06B | +0.3% | +53.5% | — | 2.2% |
|
NFLX
Netflix Inc
|
$335.30B | -12.3% | +15.9% | 25.3 | 2.2% |
|
DIS
Walt Disney Co
|
$192.09B | -2.2% | +3.4% | 23.0 | 1.1% |
|
LYV
Live Nation Entertainment, Inc.
|
$43.54B | +31.1% | +8.8% | — | 10.4% |
|
TKO
TKO Group Holdings, Inc.
|
$36.61B | -7.5% | -3.1% | — | 4.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| WBD | +1.5% | +12.9% | +3.4% | +9.9% | +0.3% |
| SPY | -0.2% | +3.4% | +11.8% | +2.5% | +12.3% |
| vs SPY | +1.7% | +9.5% | -8.4% | +7.4% | -12.0% |
Capital returns
Buyback programs
· 2 active
· as of Feb 29, 2020
Authorized (total)
$3.00B
Spent (derived)
—
Remaining
—
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1437107
CUSIP
934423104
13F (30d)
1015 filings
986 filers
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