WBD: revenue $8.72B, net income $149.0M. WBD Q2 revenue -11.2%, net income -90.6% on below-the-line costs; PSKY merger blocked

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income fell 90.6% to $149.0M while operating income swung positive to $237.0M — the bottom-line decline came from below-the-line costs (taxes, interest, non-operating items), not operations. Q1 2026 included a $2.8B Netflix termination fee.

  MD&A: Operating Results verify on EDGAR →
• high

  State attorneys general and Writers Guild filed antitrust suits in July 2026 seeking to block the PSKY merger. Defendants agreed not to close until five days after a merits determination or June 1, 2027. Trial scheduled March 2027.

  Legal Proceedings verify on EDGAR →
• high

  WBD terminated a Netflix merger agreement in February 2026 after receiving a superior proposal from PSKY. PSKY paid Netflix a $2.8B termination fee on WBD's behalf, which WBD must reimburse if the PSKY merger fails.

  MD&A: Netflix Merger Termination verify on EDGAR →