Warner Bros. Discovery annual gross margin
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2025
Warner Bros. Discovery Gross Margin Growth & History (WBD)
Warner Bros. Discovery's gross margin was 44.00% for fiscal 2025.
View full Warner Bros. Discovery company overviewWarner Bros. Discovery annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 44.00% | +2.42 pp |
| 2024 | 2024-12-31 | 41.58% | +0.94 pp |
| 2023 | 2023-12-31 | 40.65% | +1.09 pp |
| 2022 | 2022-12-31 | 39.55% | −22.55 pp |
| 2021 | 2021-12-31 | 62.10% | −1.72 pp |
| 2020 | 2020-12-31 | 63.83% | −1.90 pp |
| 2019 | 2019-12-31 | 65.73% | +3.02 pp |
| 2018 | 2018-12-31 | 62.71% | +1.36 pp |
| 2017 | 2017-12-31 | 61.36% | −1.21 pp |
| 2016 | 2016-12-31 | 62.57% | −0.79 pp |
| 2015 | 2015-12-31 | 63.36% | −2.74 pp |
| 2014 | 2014-12-31 | 66.10% | −3.39 pp |
| 2013 | 2013-12-31 | 69.49% | −3.37 pp |
| 2012 | 2012-12-31 | 72.85% | +1.07 pp |
| 2011 | 2011-12-31 | 71.79% | −0.88 pp |
| 2010 | 2010-12-31 | 72.67% | +2.86 pp |
| 2009 | 2009-12-31 | 69.81% | −0.56 pp |
| 2008 | 2008-12-31 | 70.37% | +49.32 pp |
| 2007 | 2007-12-31 | 21.05% | — |
Warner Bros. Discovery quarterly gross margin
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 46.99% | +7.80 pp |
| Q1 2026 | 2026-03-31 | 47.79% | +4.93 pp |
| Q4 2025 | 2025-12-31 | 44.79% | −0.09 pp |
| Q3 2025 | 2025-09-30 | 49.54% | +3.38 pp |
| Q2 2025 | 2025-06-30 | 39.19% | +3.06 pp |
| Q1 2025 | 2025-03-31 | 42.86% | +3.69 pp |
| Q4 2024 | 2024-12-31 | 44.88% | +2.21 pp |
| Q3 2024 | 2024-09-30 | 46.16% | −0.64 pp |
| Q2 2024 | 2024-06-30 | 36.13% | +0.19 pp |
| Q1 2024 | 2024-03-31 | 39.16% | +1.64 pp |
| Q4 2023 | 2023-12-31 | 42.67% | +5.84 pp |
| Q3 2023 | 2023-09-30 | 46.80% | +4.08 pp |
| Q2 2023 | 2023-06-30 | 35.93% | +3.35 pp |
| Q1 2023 | 2023-03-31 | 37.52% | −23.35 pp |
| Q4 2022 | 2022-12-31 | 36.83% | −29.69 pp |
| Q3 2022 | 2022-09-30 | 42.72% | −8.74 pp |
| Q2 2022 | 2022-06-30 | 32.58% | −32.96 pp |
| Q1 2022 | 2022-03-31 | 60.87% | −4.42 pp |
| Q4 2021 | 2021-12-31 | 66.52% | +5.64 pp |
| Q3 2021 | 2021-09-30 | 51.46% | −9.38 pp |
| Q2 2021 | 2021-06-30 | 65.55% | −2.58 pp |
| Q1 2021 | 2021-03-31 | 65.29% | −0.49 pp |
| Q4 2020 | 2020-12-31 | 60.88% | −3.04 pp |
| Q3 2020 | 2020-09-30 | 60.84% | −5.03 pp |
| Q2 2020 | 2020-06-30 | 68.12% | +0.64 pp |
| Q1 2020 | 2020-03-31 | 65.78% | +0.14 pp |
| Q4 2019 | 2019-12-31 | 63.92% | −2.40 pp |
| Q3 2019 | 2019-09-30 | 65.87% | +1.90 pp |
| Q2 2019 | 2019-06-30 | 67.49% | +2.46 pp |
| Q1 2019 | 2019-03-31 | 65.64% | +11.59 pp |
| Q4 2018 | 2018-12-31 | 66.32% | +6.29 pp |
| Q3 2018 | 2018-09-30 | 63.97% | +4.55 pp |
| Q2 2018 | 2018-06-30 | 65.03% | +1.36 pp |
| Q1 2018 | 2018-03-31 | 54.05% | −8.32 pp |
| Q4 2017 | 2017-12-31 | 60.03% | −1.39 pp |
| Q3 2017 | 2017-09-30 | 59.42% | −2.54 pp |
| Q2 2017 | 2017-06-30 | 63.67% | −1.03 pp |
| Q1 2017 | 2017-03-31 | 62.37% | +0.29 pp |
| Q4 2016 | 2016-12-31 | 61.42% | +0.31 pp |
| Q3 2016 | 2016-09-30 | 61.95% | −1.18 pp |
| Q2 2016 | 2016-06-30 | 64.70% | −1.21 pp |
| Q1 2016 | 2016-03-31 | 62.08% | −1.16 pp |
| Q4 2015 | 2015-12-31 | 61.12% | −3.20 pp |
| Q3 2015 | 2015-09-30 | 63.13% | −3.13 pp |
| Q2 2015 | 2015-06-30 | 65.90% | −2.11 pp |
| Q1 2015 | 2015-03-31 | 63.24% | −2.60 pp |
| Q4 2014 | 2014-12-31 | 64.32% | −4.78 pp |
| Q3 2014 | 2014-09-30 | 66.26% | −2.10 pp |
| Q2 2014 | 2014-06-30 | 68.01% | −2.20 pp |
| Q1 2014 | 2014-03-31 | 65.84% | −4.58 pp |
| Q4 2013 | 2013-12-31 | 69.10% | −3.57 pp |
| Q3 2013 | 2013-09-30 | 68.36% | −4.13 pp |
| Q2 2013 | 2013-06-30 | 70.21% | −3.32 pp |
| Q1 2013 | 2013-03-31 | 70.42% | −2.30 pp |
| Q4 2012 | 2012-12-31 | 72.67% | +2.50 pp |
| Q3 2012 | 2012-09-30 | 72.49% | +2.86 pp |
| Q2 2012 | 2012-06-30 | 73.53% | +1.02 pp |
| Q1 2012 | 2012-03-31 | 72.72% | +1.95 pp |
| Q4 2011 | 2011-12-31 | 70.16% | −1.17 pp |
| Q3 2011 | 2011-09-30 | 69.63% | −2.18 pp |
| Q2 2011 | 2011-06-30 | 72.52% | −1.11 pp |
| Q1 2011 | 2011-03-31 | 70.77% | +1.50 pp |
| Q4 2010 | 2010-12-31 | 71.33% | +2.17 pp |
| Q3 2010 | 2010-09-30 | 71.81% | +1.80 pp |
| Q2 2010 | 2010-06-30 | 73.62% | +2.64 pp |
| Q1 2010 | 2010-03-31 | 69.28% | +0.17 pp |
| Q4 2009 | 2009-12-31 | 69.16% | — |
| Q3 2009 | 2009-09-30 | 70.01% | +1.02 pp |
| Q2 2009 | 2009-06-30 | 70.98% | −0.32 pp |
| Q1 2009 | 2009-03-31 | 69.11% | — |
| Q3 2008 | 2008-09-30 | 68.99% | — |
| Q2 2008 | 2008-06-30 | 71.30% | — |
Warner Bros. Discovery gross margin trends
Over the last five fiscal years, Warner Bros. Discovery's gross margin decreased from 63.83% to 44.00%, a change of −19.83 percentage points. The latest reported quarter, Q2 2026, shows 46.99%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Warner Bros. Discovery source filings ↗Community posts
Warner Bros. Discovery and Miral reveal three Harry Potter lands for Abu Dhabi
Warner Bros. Discovery Global Experiences and Miral announced details of an Abu Dhabi theme-park expansion on 7 September 2026. Development scope The three Harry Potter lands are Diagon Alley, Hogwarts and the Forbidden Forest, covering app ...