Warner Bros. Discovery Q3 FY25: where the revenue came from and where it went
The whole income statement of Warner Bros. Discovery for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Nov 6, 2025
Revenue$9.05B
−6% year over year
Gross profit$4.48B
50% margin
Operating profit$0.61B
7% margin
Net profit−$0.15B
−2% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 9.05 | 100% | −6% |
| Distribution | 4.70 | 52% | −4% |
| Content | 2.65 | 29% | −3% |
| Advertising | 1.41 | 16% | −16% |
| Service other | 0.29 | 3% | −4% |
| Cost of revenue | −4.56 | 50% | |
| Gross profit | 4.48 | 50% margin | +3pp |
| SG&A | −2.36 | 26% | +1pp |
| Other | −1.51 | 17% | +0pp |
| Operating profit | 0.61 | 7% margin | +4pp |
| Interest & other costs | −0.59 | ||
| Tax | −0.17 | ||
| Net profit | −0.15 | −2% margin | −3pp |
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