Warner Bros. Discovery has reported strong growth for its gaming business during the second quarter of 2026, with Warner Bros. Games revenue increasing 45% year over year on a constant currency basis. The company attributed the improvement primarily to the release of LEGO Batman: Legacy of the Dark Knight.
Because Warner Bros. Games is reported within the company’s Studios segment rather than as a standalone business, Warner Bros. Discovery did not disclose separate revenue, operating profit or other financial figures for its games division.
The earnings release also showed that games content expense increased 52% year over year, reflecting the higher costs associated with launching LEGO Batman: Legacy of the Dark Knight. These expenses typically include development amortisation, royalties, manufacturing, platform fees and marketing costs.
Despite the strong performance from gaming, the wider Studios business experienced a difficult quarter. Studios revenue declined 39% to $2.328 billion, while content revenue fell 41%. Theatrical revenue dropped 46% and television revenue decreased 45%, which the company attributed in part to comparisons with a stronger film slate in the prior-year period. As a result, Studios Adjusted EBITDA fell 89% year over year to $96 million.
The company contrasted this year’s performance with the same quarter last year, which benefited from releases including A Minecraft Movie, Sinners and Final Destination Bloodlines.
Across the wider business, Warner Bros. Discovery reported total revenue of $8.717 billion, down 11% year over year. Adjusted EBITDA declined 4% to $1.879 billion, net income fell to $149 million from $1.58 billion a year earlier, and free cash flow decreased 19% to $572 million.
