Warner Bros. Discovery (WBD) Operating Expenses (2009 - 2026)

Warner Bros. Discovery has reported Operating Expenses for 18 years, with the latest figure at $11.4 billion in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 26.02% year-over-year to $11.4 billion; the trailing twelve-month figure through Mar 2026 stood at $38.9 billion (down 19.19% YoY), and the FY2025 full-year result was $36.6 billion, down 25.93% from the prior year.
• Operating Expenses for Q1 2026 stood at $11.4 billion, up from $9.1 billion in the prior quarter.
• The five-year high for Operating Expenses was $19.9 billion in Q2 2024, with the low at $2.8 billion in Q1 2022.
• Historically, Operating Expenses has averaged $10.7 billion across 5 years, with a median of $10.2 billion in 2024.
• Annual changes were most pronounced in 2022 — Operating Expenses soared 489.84% — and 2025, when it tumbled 49.82%.
• Warner Bros. Discovery's Operating Expenses stood at $12.9 billion in 2022, then dropped by 18.88% to $10.5 billion in 2023, then declined by 5.74% to $9.9 billion in 2024, then decreased by 7.64% to $9.1 billion in 2025, then rose by 24.71% to $11.4 billion in 2026.
• The last three Operating Expenses figures came in at $11.4 billion (Q1 2026), $9.1 billion (Q4 2025), and $8.4 billion (Q3 2025), per Business Quant data.