Warner Bros. Discovery has had a string of successful movies boost a shockingly good quarter. The entertainment company, which is about to be split into the separate entities Warner Bros. and Discovery Global, has holdings that include the Warner Bros. studio, DC Entertainment (which recently launched their rebranded film franchise, the DC Universe), and HBO.
When Warner Bros. Discovery reported their Q2 earnings today, many of their reported numbers exceeded expectations considerably. While analysts projected that the company’s overall revenue would hit $9.6 billion, it surged past that total, hitting $9.812 billion, which is 1.02% more than Q2 of 2024.
Streaming was slightly under expectations, rising 9% instead of 10% to hit $2.8 billion. However, their Studios segment shattered expectations by rising 55% instead of 24% with $3.8 billion. Although Studios had a decline in gaming revenue because of a lack of new releases, TV revenue grew 115% while theatrical revenue grew 38%.
This astounding growth has been propelled by an unprecedented hot streak at the box office. In a year when theatrical performances have been notoriously up and down, Warner Bros. Discovery has had five movies in a row debut with domestic opening weekends higher than $45 million. This is the first time that this has happened for any studio.
The movies in question are A Minecraft Movie (which debuted with $162.7 million), Sinners ($48 million), Final Destination Bloodlines ($51.6 million), F1 The Movie ($57 million), and Superman ($125 million), the latter of which kicked off Q3.
What This Means For Warner Bros. Discovery
Warner Bros. Discovery’s five-film hot streak is even more impressive in the wake of the fact that they kicked off 2025 with a group of underwhelming titles. The most notable of these was the big-budget Bong Joon Ho sci-fi movie Mickey 17, which only grossed $131.8 million against its reported $118 million budget.
Movies often need to gross two and a half times their production budgets in order to turn a profit.
Other Q1 Warner Bros. titles that failed to set the world on fire were the Jack Quaid and Sophie Thatcher-led sci-fi thriller Companion (which earned $36.7 million against a reported $10 million budget, making it a success without rendering it a runaway hit) and the outright flop The Alto Knights (which earned $9.6 million against a reported $50 million budget).
Our Take On The Warner Bros. Discovery Earnings Record
While Q2 held some major wins for Warner Bros. Discovery, their theatrical revenue seems prepared to continue its current hot streak into Q3. 2025’s Superman is leading the charge, as it has already become the seventh highest-grossing movie of 2025 so far, but other promising titles on the schedule include Weapons and The Conjuring: Last Rites.
