Warner Bros. Discovery (WBD Quick QuoteWBD - Free Report) reported $8.72 billion in revenue for the quarter ended June 2026, representing a year-over-year decline of 11.2%. EPS of $0.06 for the same period compares to $0.63 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $9.29 billion, representing a surprise of -6.19%. The company delivered an EPS surprise of +146.15%, with the consensus EPS estimate being -$0.13.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Warner Bros. Discovery performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues- Global Linear Networks: $3.99 billion compared to the $4.19 billion average estimate based on five analysts. The reported number represents a change of -16.9% year over year.
• Revenues- Studios: $2.33 billion compared to the $3.04 billion average estimate based on five analysts. The reported number represents a change of -38.8% year over year.
• Revenues- Streaming: $3.08 billion versus $3.08 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.2% change.
• Revenues- Inter-segment eliminations: $-682 million compared to the $-974.93 million average estimate based on four analysts. The reported number represents a change of -57% year over year.
• Revenues- Content: $1.83 billion versus $2.38 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -26% change.
• Revenues- Distribution: $4.95 billion compared to the $5.01 billion average estimate based on three analysts. The reported number represents a change of +1.3% year over year.
• Revenues- Other: $215 million versus $301.79 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.4% change.
• Revenues- Advertising: $1.72 billion compared to the $1.9 billion average estimate based on three analysts. The reported number represents a change of -22.2% year over year.
• Revenues- Distribution- Global Linear Networks: $2.27 billion versus $2.29 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.6% change.
• Revenues- Content- Global Linear Networks: $261 million compared to the $236.48 million average estimate based on two analysts. The reported number represents a change of -9.1% year over year.
• Revenues- Other- Global Linear Networks: $36 million versus the two-analyst average estimate of $84.29 million. The reported number represents a year-over-year change of -58.1%.
• Revenues- Advertising- Streaming: $306 million versus the two-analyst average estimate of $308.52 million. The reported number represents a year-over-year change of +8.5%.

View all Key Company Metrics for Warner Bros. Discovery here>>>

Shares of Warner Bros. Discovery have returned -0.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.