| WBD |
Report |
Q2 2026 Adjusted EBITDA |
BEAT |
pred ~$1.93B vs. cons $1.867B |
MEDIUM |
| WBD |
Report |
Q2 2026 Streaming Adjusted EBITDA |
BEAT |
pred ~$470M vs. cons $455M |
MEDIUM |
| WBD |
Report |
Q2 2026 Revenue |
IN-LINE |
pred ~$9.20B vs. cons $9.236B |
MEDIUM |
| WBD |
Guide |
Studios Adjusted EBITDA |
LOWER |
guide ~$2.55B vs. cons $2.60B (FY2026) |
MEDIUM |
| WBD |
Guide |
Global Streaming Subscribers |
UNCHANGED |
guide >150M vs. cons 151M (FY2026 year-end) |
HIGH |
| WBD |
Guide |
Global Linear Networks Operating Expense Improvement |
UNCHANGED |
guide ~8% vs. cons 8% (FY2026) |
MEDIUM |
| WBD |
Guide |
Paramount Transaction Base Cash Consideration |
UNCHANGED |
guide ~$31.00/share vs. cons $31.00/share (through transaction closing/FY2027) |
MEDIUM |
| WBD |
Return |
Day-1 residual (stock − beta × S&P 500) |
+0.7% |
— |
MEDIUM |
| WBD |
Return |
5-day cumulative residual |
+0.2% (FADE) |
A modest Q2 EBITDA beat should initially help standalone downside protection, but the ~$2.55B Studios outlook versus ~$2.60B consensus limits out-period estimate revisions; merger-arbitrage pricing and the unchanged $31.00 offer cap should fade most of the earnings-driven move. |
MEDIUM |