AI English summary of an SEC filing — figures as filed
Warner Bros. Discovery WBDWarner Bros. Discovery said net loss available to the company was $2.9 billion in the quarter ended Q1 2026, which includes a $2.8 billion termination fee paid to Netflix. The company explained that PSKY paid this amount to Netflix on WBD's behalf under the terms of the merger agreement.
Key points
AI summaryWarner Bros. Discovery said net loss available to the company was $2.9 billion in the quarter ended Q1 2026, which includes a $2.8 billion termination fee paid to Netflix. The company explained that PSKY paid this amount to Netflix on WBD's behalf under the terms of the merger agreement.
Warner Bros. Discovery said total revenues for Q1 were $8.9 billion, a 3% decrease ex-FX from the prior year quarter, and Adjusted EBITDA was $2.2 billion, relatively unchanged ex-FX. The company cited growth in the Streaming and Studios segments offset by a decline in the Global Linear Networks segment.
Warner Bros. Discovery said cash provided by operating activities for Q1 was $(208) million and free cash flow was $(476) million. The company cited higher net content investment, higher tax payments and working capital timing as factors in the decrease from $553 million and $302 million in the prior year quarter.
Warner Bros. Discovery said as of March 31, 2026 gross debt was $33.4 billion, net debt was $30.1 billion, net leverage was 3.4x and cash on hand was $3.3 billion. The company said its $4.0 billion revolving credit facility was undrawn.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Net Loss and Netflix Termination Fee in Q1
Warner Bros. Discovery said net loss available to the company was $2.9 billion in the quarter ended Q1 2026, which includes a $2.8 billion termination fee paid to Netflix. The company explained that PSKY paid this amount to Netflix on WBD's behalf under the terms of the merger agreement.
Source · Based on the filing body and exhibits
Total Revenues and Adjusted EBITDA in Q1
Warner Bros. Discovery said total revenues for Q1 were $8.9 billion, a 3% decrease ex-FX from the prior year quarter, and Adjusted EBITDA was $2.2 billion, relatively unchanged ex-FX. The company cited growth in the Streaming and Studios segments offset by a decline in the Global Linear Networks segment.
Source · Based on the filing body and exhibits
Operating Cash Flow and Free Cash Flow in Q1
Warner Bros. Discovery said cash provided by operating activities for Q1 was $(208) million and free cash flow was $(476) million. The company cited higher net content investment, higher tax payments and working capital timing as factors in the decrease from $553 million and $302 million in the prior year quarter.
Source · Based on the filing body and exhibits
Net Debt, Net Leverage and Revolving Credit Facility
Warner Bros. Discovery said as of March 31, 2026 gross debt was $33.4 billion, net debt was $30.1 billion, net leverage was 3.4x and cash on hand was $3.3 billion. The company said its $4.0 billion revolving credit facility was undrawn.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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