Warner Bros. Discovery, Inc. (WBD) earnings on August 6, 2026

Before the market opens Q2 2026

More Warner Bros. Discovery, Inc. earnings

Prior outlook: Pessimistic Outcome: Missed

Warner Bros. Discovery's stock settled up +1.64% after reaching an intraday high of +2.37%, despite a strong pre-event short reads. This positive price movement occurred amidst news regarding future HBO performance and regulatory approval for a potential acquisition.

WBD price around the earnings

26.40

Change: +1.7%

2026-08-06, 20:00 UTC

Start of the measured window End of the measured window
25.80 26.05 26.31 26.56 25.96
Price series around the eventClosing price per minute from before the event to the end of the measured window.
August 6, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Missed

Thesis published
Results released

Catastrophic earnings and M&A uncertainty drive persistent pessimistic trajectory; trajectory worsened from -24.1 to -75.8.

Context analyzed before publication

Trend
Trajectory deteriorated sharply from -24.1 to -87.6; catastrophic earnings history and merger uncertainty create persist

Analysts

Evidence

Analyst consensus
Hold
Consensus average (1-5)
2.84
Analysts covering the stock
11
Average price target
29.82
Lowest price target
26
Highest price target
31.25
Upside to price target
14.8%
Revenue growth
-1%
Forward EPS
0.02
Trailing EPS
-0.7
Analyst moves in the last 60 days
2
  • Strong buy: 0
  • Buy: 2
  • Hold: 16
  • Sell: 0
  • Strong sell: 1
Strong buy
0
Buy
2
Hold
16
Sell
0
Strong sell
1
  • July 27, 2026 · Seaport Global: Downgrades rating (Buy → Neutral)
  • June 29, 2026 · Seaport Global: Upgrades rating (Neutral → Buy)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
High
Normalized volume
99%
News
Sources (5)

Technicals

Evidence

Price when the context was analyzed
25.97
Average true range (ATR)
2.1%
Distance to 52-week high
-13.4%
14-day change (14d)
+0.4%
30-day change (30d)
-0.7%
30-day relative strength
+0.1%
QQQ change (30d)
-0.8%
Nearest support
25.76
Distance to nearest support
0.8%
Nearest resistance
25.99
Distance to nearest resistance
0.1%
Volume accumulation ratio (14d / 46d)
1.22
  • Mid: 25.76 (0.8% away, 0.36 ATR, 17 touches)
  • Mid: 25.62 (1.3% away, 0.61 ATR, 14 touches)
  • Mid: 25.4 (2.2% away, 1.01 ATR, 9 touches)
  • Minor: 25.99 (0.1% away, 0.04 ATR, 7 touches)
  • Mid: 26.11 (0.6% away, 0.26 ATR, 16 touches)
  • Mid: 26.25 (1.1% away, 0.51 ATR, 16 touches)

Trends

Evidence

Average earnings surprise
-873.9%
  • May 6, 2026: actual EPS -1.17 vs estimate -0.1 (surprise -1110.3%)
  • February 26, 2026: actual EPS -0.1 vs estimate (surprise -2790.2%)
  • November 6, 2025: actual EPS -0.06 vs estimate -0.08 (surprise +28.6%)
  • August 7, 2025: actual EPS 0.63 vs estimate -0.23 (surprise +376.3%)

Expected move

Implied move
+3.5%
Source
Options chain

Reactions over its last 17 earnings

Median move
4.8%
75th percentile move
9.7%
90th percentile move
14.4%
Up / down moves
7 / 10
Average up move
+4.8%
Average down move
-8.1%

Monitoring and close

What Warner Bros. Discovery, Inc. reported

Status
Finished
Actual EPS0.06
EPS estimate-0.11
EPS surprise+153.9%

Consumer stocks decline late afternoon, reflecting sector pessimism. Warner Bros. faces legal challenges and linear TV declines despite streaming records.

Sources (21)

Pre-market second reading after the results

There is no second reading available for this event.

How the stock reacted

Outcome
Missed
Consolidated
+1.6%
Max favorable move (MFE)
1%
Max adverse move (MAE)
2.4%