Warner Bros. Discovery

Q2 FY2026 EarningsQ2 FY26 results missed consensus on the top-line, with revenue of $8.72B falling short of the $9.18B expected. However, the company reported a positive GAAP EPS of $0.06, significantly beating the consensus mean estimate of a -$0.10 loss, primarily driven by a substantial $433M income tax benefit. The Streaming segment showed strong momentum with a 63% ex-FX Adjusted EBITDA increase, while the absence of NBA rights and a weak theatrical slate weighed heavily on the Global Linear Networks and Studios segments respectively.