Warner Bros. Discovery (WBD) Operating Expenses (2009 - 2026)
Warner Bros. Discovery's (WBD) quarterly Operating Expenses came in at $11.4 billion in Q1 2026, up 26.02% YoY from $9.0 billion in Q1 2025, and up 24.71% on a QoQ basis from $9.1 billion in Q4 2025.
Warner Bros. Discovery (WBD) Operating Expenses (2009 - 2026) Analysis & Trends
Warner Bros. Discovery (WBD) has 18 years of Operating Expenses data on file, last reported at $11.4 billion in Q1 2026.
- Quarterly Operating Expenses rose 26.02% year-over-year to $11.4 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $38.9 billion (down 19.19% YoY) and the FY2025 annual result came in at $36.6 billion, down 25.93% from the prior year.
- Operating Expenses advanced to $11.4 billion in Q1 2026, from $9.1 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 $2.8 billion in Q1 2022.
- A 5-year average of $10.7 billion and a median of $10.2 billion in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses soared 489.84% — and 2025, when it tumbled 49.82%.
- Tracing WBD's Operating Expenses over 5 years: 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.
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| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 1.32 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 20.49 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 8.48 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 1.24 Bn |
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Historic Data
Download 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 |