WBD · 8-K · 20260806PR000072

Income Tax Rate Changes

Warner Bros. Discovery, Inc. · 2026-08-06 · Importance 71 · Surprise 82

The company reported a $433 million income tax benefit in the second quarter of 2026, compared with an $866 million income tax expense in the second quarter of 2025. The tax benefit converted a $271 million pretax loss into $162 million of net income. Net income available to Warner Bros. Discovery was $149 million, down 91% from $1,580 million despite the tax benefit. Deferred income taxes in the six-month cash-flow statement were a $812 million source of cash in 2026, versus a $471 million source in 2025.

Key facts

• Income tax benefit (expense) was a benefit of $433 million for the three months ended June 30, 2026. source