Warner Bros. Discovery closes the second quarter of the year with results that confirm the company's transformation is beginning to bear tangible fruit. Despite the structural downturn in traditional television broadcasting, the company managed to keep overall revenues slightly in the black and rebuild operating profit. The main drivers this time were the movie studios, which benefited from the success of several strong premieres, and the streaming division, which added millions more subscribers and remains a key part of the new strategy.

At the same time, the company achieved an accounting turnaround: after a series of losses, it posted a positive net profit, although exceptional items related to restructuring and adjustments to the capital structure played a role. Warner Bros. Discovery $WBD is going through a period where it needs to transform itself from a classic media conglomerate into an agile content and technology platform. The second quarter of 2025 indicated that this process…