WBD Q2: Streaming Growth Fails to Offset Box Office Bombs and Deal Turmoil

Warner Bros. Discovery posted a mixed Q2 2026: streaming revenue rose 9% to $3.1B and total revenue reached $8.717B with net income of $100M, but theatrical revenue plunged 46% year over year as box-office misses like Supergirl and The Bride weighed on the quarter, and advertising declined 22% amid NBA absence. The results emphasize streaming strength amid weak film performance, while the Paramount Skydance takeover drags on with a March 2027 trial and a $7M-per-day ticking fee if closed; Ellison defends CNN’s independence, with no final deal updates in the earnings release.