Warner Bros. Discovery (WBD) Cost of Revenue (2009 - 2026)
Warner Bros. Discovery's (WBD) quarterly Cost of Revenue came in at $4.6 billion in Q1 2026, down 9.51% YoY from $5.1 billion in Q1 2025, and down 11.1% on a QoQ basis from $5.2 billion in Q4 2025.
Warner Bros. Discovery (WBD) Cost of Revenue (2009 - 2026) Analysis & Trends
Warner Bros. Discovery (WBD) has 18 years of Cost of Revenue data on file, last reported at $4.6 billion in Q1 2026.
- Quarterly Cost of Revenue fell 9.51% year-over-year to $4.6 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $20.4 billion (down 7.47% YoY) and the FY2025 annual result came in at $20.9 billion, down 9.08% from the prior year.
- Cost of Revenue eased to $4.6 billion in Q1 2026, from $5.2 billion in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $7.0 billion in Q4 2022 to a low of $1.2 billion in Q1 2022.
- A 5-year average of $5.5 billion and a median of $5.6 billion in 2022 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue jumped 551.73% — and 2025, when it slipped 15.3%.
- Tracing WBD's Cost of Revenue over 5 years: stood at $7.0 billion in 2022, then slipped by 15.21% to $5.9 billion in 2023, then dropped by 6.26% to $5.5 billion in 2024, then slipped by 5.5% to $5.2 billion in 2025, then dropped by 11.1% to $4.6 billion in 2026.
- The last three Cost of Revenue figures came in at $4.6 billion (Q1 2026), $5.2 billion (Q4 2025), and $4.6 billion (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 6.04 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 13.67 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 4.62 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 5.72 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 605.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 680.99 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 556.12 Mn |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | -3.82 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 4.62 Bn |
| Jun 30, 2026 | 4.62 Bn |
| Mar 31, 2026 | 4.64 Bn |
| Mar 31, 2026 | 4.64 Bn |
| Dec 31, 2025 | 5.22 Bn |
| Dec 31, 2025 | 5.22 Bn |
| Sep 30, 2025 | 4.56 Bn |
| Sep 30, 2025 | 4.56 Bn |
| Jun 30, 2025 | 5.97 Bn |
| Jun 30, 2025 | 5.97 Bn |
| Mar 31, 2025 | 5.13 Bn |
| Mar 31, 2025 | 5.13 Bn |
| Dec 31, 2024 | 5.53 Bn |
| Dec 31, 2024 | 5.53 Bn |
| Sep 30, 2024 | 5.18 Bn |
| Sep 30, 2024 | 5.18 Bn |
| Jun 30, 2024 | 6.20 Bn |
| Jun 30, 2024 | 6.20 Bn |
| Mar 31, 2024 | 6.06 Bn |
| Mar 31, 2024 | 6.06 Bn |