Warner Bros. Discovery(WBD) - 2025 Q4 - Annual Results

Warner Bros. Discovery Reports Fourth-Quarter and Full-Year 2025 Results | | | | Three Months Ended December 31, | | | | Twelve Months Ended December 31, | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2025 | 2024 | % Change | | 2025 | 2024 | % Change | | | $ in millions | | | | Reported | Ex-FX(') | | | Reported | Ex-FX(') | | Distribution | କି | 4,789 | 49 4,917 | (3)% | $ (3)% | 19,262 | $ 19,701 | (2)% | (2)% | | Advertising | | 1,703 | 1.830 | (7)% | (9)% | 7,306 | 8,090 | (10 ...