Warner Bros. Discovery (WBD) Operating Expenses (2009 - 2026)
Warner Bros. Discovery (WBD) posted Operating Expenses of $8.48 billion for Q2 2026, down 15.2% from $10 billion a year earlier and down 25.4% from the prior quarter.
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Analysis
Warner Bros. Discovery (WBD) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Warner Bros. Discovery was $37.39 billion, down 2.2% year-over-year; for FY2025, it came in at $36.56 billion, down 25.9% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 35.0% (FY2020 to FY2025).
- In prior years, Warner Bros. Discovery's Operating Expenses was $49.35 billion in FY2024 (+15.1%), $42.87 billion in FY2023 (+4.1%), $41.19 billion in FY2022 (+304.6%) and $10.18 billion in FY2021 (+24.8%).
- Quarterly Operating Expenses has run from a low of $2.68 billion in Q4 2021 to a high of $19.92 billion in Q2 2024 over five years.
- On a year-over-year basis, Operating Expenses increased in 1 of the last eight quarters, with an average decline of 9.9%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q2 2022, with growth of 489.8%; the weakest was Q2 2025, with a decline of 49.8%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $11.36 billion (Q1 2026), $9.11 billion (Q4 2025) and $8.43 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 77.50 Bn | 63.16 Bn | 4.10 Bn | 8.48 Bn |
| 2 | Fox | 27.18 Bn | 13.09 Bn | - | 2.38 Bn |
| 3 | Omnicom | 20.60 Bn | 3.30 Bn | 1.30 Bn | 5.64 Bn |
| 4 | News | 16.19 Bn | 8.39 Bn | - | 991.00 Mn |
| 5 | Paramount Skydance | 11.39 Bn | 9.31 Bn | - | - |
| 6 | New York Times | 10.30 Bn | 7.79 Bn | 394.61 Mn | 644.44 Mn |
| 7 | Pearson | 10.14 Bn | 7.28 Bn | - | - |
| 8 | Sirius Xm Holdings | 8.74 Bn | 8.32 Bn | 1.44 Bn | 1.69 Bn |
| 9 | 36Kr Holdings | 6.25 Bn | 6.19 Bn | - | - |
| 10 | Wpp | 5.52 Bn | -6.28 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.48 Bn |
| Mar 31, 2026 | 11.36 Bn |
| Dec 31, 2025 | 9.11 Bn |
| Sep 30, 2025 | 8.43 Bn |
| Jun 30, 2025 | 10.00 Bn |
| Mar 31, 2025 | 9.02 Bn |
| Dec 31, 2024 | 9.87 Bn |
| Sep 30, 2024 | 9.34 Bn |
| Jun 30, 2024 | 19.92 Bn |
| Mar 31, 2024 | 10.23 Bn |
| Dec 31, 2023 | 10.47 Bn |
| Sep 30, 2023 | 9.88 Bn |
| Jun 30, 2023 | 11.26 Bn |
| Mar 31, 2023 | 11.26 Bn |
| Dec 31, 2022 | 12.90 Bn |
| Sep 30, 2022 | 12.01 Bn |
| Jun 30, 2022 | 13.47 Bn |
| Mar 31, 2022 | 2.81 Bn |
| Dec 31, 2021 | 2.68 Bn |
| Sep 30, 2021 | 2.82 Bn |
API Access
Warner Bros. Discovery Operating Expenses 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=operating-expenses&ticker=WBD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=WBD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();