Warner Bros. Discovery (WBD) Cost of Revenue (2009 - 2026)
Warner Bros. Discovery (WBD) recorded Cost of Revenue of $4.62 billion in Q2 2026, down 22.6% from $5.97 billion a year earlier and down 0.5% from the prior quarter.
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Analysis
Warner Bros. Discovery (WBD) Cost of Revenue (2009 - 2026) Analysis & Trends
On a TTM basis, Warner Bros. Discovery's Cost of Revenue came in at $19.05 billion as of Jun 30, 2026, down 12.6% year-over-year; for FY2025, it was $20.89 billion, down 9.1% from FY2024.
- Annual Cost of Revenue has a five-year compound annual growth rate of 40.2% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $22.97 billion in FY2024 (-6.3%), $24.53 billion in FY2023 (+20.0%), $20.44 billion in FY2022 (+342.5%) and $4.62 billion in FY2021 (+19.7%).
- Quarterly Cost of Revenue has ranged from $1.07 billion in Q4 2021 to $6.95 billion in Q4 2022 over the past five years.
- On a year-over-year basis, Cost of Revenue has declined for 12 consecutive quarters, with an average decline of 9.7% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 551.7% in Q4 2022, against a decline of 22.6% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $4.64 billion (Q1 2026), $5.22 billion (Q4 2025) and $4.56 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 77.60 Bn | 63.26 Bn | 4.10 Bn | 4.62 Bn |
| 2 | Fox | 26.84 Bn | 12.75 Bn | - | - |
| 3 | Omnicom | 20.35 Bn | 3.05 Bn | 1.30 Bn | 5.26 Bn |
| 4 | News | 15.97 Bn | 8.16 Bn | - | - |
| 5 | Paramount Skydance | 10.53 Bn | 8.45 Bn | - | - |
| 6 | Pearson | 10.25 Bn | 7.39 Bn | - | - |
| 7 | New York Times | 10.06 Bn | 7.55 Bn | 394.61 Mn | 367.84 Mn |
| 8 | Sirius Xm Holdings | 8.67 Bn | 8.25 Bn | 1.44 Bn | 722.00 Mn |
| 9 | 36Kr Holdings | 5.97 Bn | 5.91 Bn | - | - |
| 10 | Wpp | 5.32 Bn | -6.48 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.62 Bn |
| Mar 31, 2026 | 4.64 Bn |
| Dec 31, 2025 | 5.22 Bn |
| Sep 30, 2025 | 4.56 Bn |
| Jun 30, 2025 | 5.97 Bn |
| Mar 31, 2025 | 5.13 Bn |
| Dec 31, 2024 | 5.53 Bn |
| Sep 30, 2024 | 5.18 Bn |
| Jun 30, 2024 | 6.20 Bn |
| Mar 31, 2024 | 6.06 Bn |
| Dec 31, 2023 | 5.90 Bn |
| Sep 30, 2023 | 5.31 Bn |
| Jun 30, 2023 | 6.64 Bn |
| Mar 31, 2023 | 6.69 Bn |
| Dec 31, 2022 | 6.95 Bn |
| Sep 30, 2022 | 5.63 Bn |
| Jun 30, 2022 | 6.63 Bn |
| Mar 31, 2022 | 1.24 Bn |
| Dec 31, 2021 | 1.07 Bn |
| Sep 30, 2021 | 1.53 Bn |
API Access
Warner Bros. Discovery Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=WBD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "WBD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=WBD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();