Warner Bros. Discovery, Inc. (WBD) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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WBD Revenue Growth
Revenue Breakdown (FY 2024)
WBD's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
WBD Revenue Analysis (2013–2024)
As of May 6, 2026, Warner Bros. Discovery, Inc. (WBD) generated trailing twelve-month (TTM) revenue of $37.86 billion, reflecting moderate decline in growth of -6.0% year-over-year. The most recent quarter (Q3 2025) recorded $9.04 billion in revenue, down 7.8% sequentially.
Looking at the longer-term picture, WBD's 5-year compound annual growth rate (CAGR) stands at +28.7%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $41.32 billion in 2023.
Revenue diversification analysis shows WBD's business is primarily driven by Distribution Revenue (50%), Content Licensing Contracts (26%), and Advertising (21%). With over half of revenue concentrated in Distribution Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Communication Services sector peers including DIS (+3.5% YoY), FOXA (+9.2% YoY), and NFLX (+15.9% YoY), WBD has underperformed the peer group in terms of revenue growth. Compare WBD vs DIS →
WBD Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WBDCurrent | $37.9B | -6.0% | +28.7% | -25.5% | |
 DIS | $94.4B | +3.5% | +7.6% | 14.6% | |
 FOXA | $16.3B | +9.2% | +5.8% | 19.8% | |
 NFLX | $45.2B | +15.9% | +12.6% | 29.5% | |
 CMCSA | $123.7B | +1.4% | +3.6% | 16.7% | |
 AMC | $4.8B | +10.6% | +31.3% | 38.1% |
WBD Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $39.32B | -4.8% | $16.35B | 41.6% | $-10,032,000,000 | -25.5% |
| 2023 | $41.32B | +22.2% | $16.80B | 40.6% | $-1,548,000,000 | -3.7% |
| 2022 | $33.82B | +177.4% | $13.38B | 39.6% | $-7,370,000,000 | -21.8% |
| 2021 | $12.19B | +14.2% | $7.57B | 62.1% | $2.01B | 16.5% |
| 2020 | $10.67B | -4.2% | $6.81B | 63.8% | $2.52B | 23.6% |
| 2019 | $11.14B | +5.6% | $7.33B | 65.7% | $3.01B | 27.0% |
| 2018 | $10.55B | +53.5% | $6.62B | 62.7% | $1.93B | 18.3% |
| 2017 | $6.87B | +5.8% | $4.22B | 61.4% | $713.0M | 10.4% |
| 2016 | $6.50B | +1.6% | $4.07B | 62.6% | $2.06B | 31.7% |
| 2015 | $6.39B | +2.1% | $4.05B | 63.4% | $1.99B | 31.0% |
Full WBD Stock Analysis
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Start ComparisonWBD — Frequently Asked Questions
Quick answers to the most common questions about buying WBD stock.
Is WBD's revenue growth accelerating or slowing?
WBD revenue declined -6.0% year-over-year, contrasting with the 5-year CAGR of +28.7%. TTM revenue fell to $37.9B. This reverses the prior growth trend.
What is WBD's long-term revenue growth rate?
Warner Bros. Discovery, Inc.'s 5-year revenue CAGR of +28.7% reflects the variable expansion pattern. Current YoY growth of -6.0% is below this long-term average.
How is WBD's revenue distributed by segment?
WBD reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.