| WBD |
Report |
Total revenue |
MISS |
pred ~$9.20B vs. cons $9.33B |
MEDIUM |
| WBD |
Report |
Adjusted EBITDA |
MISS |
pred ~$1.82B vs. cons $1.90B |
MEDIUM |
| WBD |
Report |
Free cash flow |
MISS |
pred ~$0.60B vs. cons $0.72B |
LOW |
| WBD |
Guide |
Global Streaming subscribers, year-end target |
UNCHANGED |
guide ~>150M vs. cons 151M (FY2026) |
MEDIUM |
| WBD |
Guide |
Underlying free-cash-flow conversion |
UNCHANGED |
guide ~42% vs. cons 41% (FY2026) |
LOW |
| WBD |
Guide |
Q3 Adjusted EBITDA outlook / linear-networks commentary |
LOWER |
guide ~$1.95B vs. cons $2.06B (Q3 2026) |
MEDIUM |
| WBD |
Return |
Day-1 residual (stock − beta × S&P 500) |
-2.8% |
— |
MEDIUM |
| WBD |
Return |
5-day cumulative residual |
-4.5% (FOLLOW-THROUGH) |
A ~$0.08B EBITDA miss versus consensus and ~$0.12B FCF miss would reinforce weaker second-half linear-network and cash-conversion math; unchanged >150M streaming-subscriber framing is insufficient to offset likely FY2026/FY2027 estimate cuts. |
MEDIUM |