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Warner Bros. Discovery (WBD) Operating Expenses (2016 - 2026)

Warner Bros. Discovery filings provide 17 years of Operating Expenses readings, the most recent being $9.1 billion for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 7.64% to $9.1 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $36.6 billion, a 25.93% decrease, with the full-year FY2025 number at $36.6 billion, down 25.93% from a year prior.
  • Operating Expenses hit $9.1 billion in Q4 2025 for Warner Bros. Discovery, up from $8.4 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $19.9 billion in Q2 2024 to a low of $2.3 billion in Q2 2021.
  • Median Operating Expenses over the past 5 years was $9.9 billion (2023), compared with a mean of $9.0 billion.
  • Biggest five-year swings in Operating Expenses: surged 489.84% in 2022 and later tumbled 49.82% in 2025.
  • Warner Bros. Discovery's Operating Expenses stood at $2.7 billion in 2021, then surged by 381.6% to $12.9 billion in 2022, then fell by 18.88% to $10.5 billion in 2023, then dropped by 5.74% to $9.9 billion in 2024, then dropped by 7.64% to $9.1 billion in 2025.
  • The last three reported values for Operating Expenses were $9.1 billion (Q4 2025), $8.4 billion (Q3 2025), and $10.0 billion (Q2 2025) per Business Quant data.