Overview

• Net income reached $1.58 billion in the second quarter of 2025, swinging from a loss of $9.99 billion a year earlier on flat revenues of $9.81 billion.
• Streaming revenue rose 9% to $2.8 billion and the segment swung to a $293 million profit while adding 3.4 million subscribers to reach 125.7 million globally.
• The studios division saw revenue jump 55% to $3.8 billion and profits climb to $863 million, driven by box office successes including A Minecraft Movie and Sinners.
• Global linear networks revenue declined 9% to $4.8 billion and profits fell 25% to $1.5 billion, reflecting ongoing shifts away from traditional TV.
• The company lowered gross debt to $35.6 billion and is preparing a mid-2026 split into Warner Bros. and Discovery Global with targets of 150 million streaming subscribers and $3 billion in studios EBITDA.