Q2
WBD — Q2 2026 Financial Report Analysis
HBO Max-led Streaming hit $3.1B revenue and $512M Adjusted EBITDA, but revenue fell 11% to $8.7B as Studios lapped last year's box-office hits and cable networks lost the NBA; net income fell to $149M from a prior-year quarter inflated by a $3.0B debt-buyback gain.