Warner Bros. Discovery continues to overlook its gaming division in the financial results for the first quarter of 2026

Warner Bros. Discovery (WBD) announced plans for its future, though its correspondence to shareholders omitted any discussion of its gaming division amidst a 30% downturn in gaming revenue.

The company's communication highlighted the firm’s dedication to expanding HBO Max internationally, reinstating its Studios' leadership in the industry, and enhancing its Global Linear Networks.

Upon inspecting the financial details, it became evident that the revenue from games experienced a 30% decline, not considering the impact of foreign currencies. Additionally, expenses related to gaming content went down by 43% ex-FX, largely due to reduced library revenues.

Although WBD remained silent on its gaming segment specifics, it acknowledged that its Studios division—home to its gaming operations—continues to progress toward achieving a minimum of $3 billion in Adjusted EBITDA, aided by a varied range of first-run films, television, video games, and related businesses.

In the first quarter of 2026, Warner Bros. Discovery reported a total revenue of $8.8 billion, marking a 1% decrease from the previous year.

Previously, in March, Warner Bros. Discovery labeled 2025 as significant, mentioning efforts to "rebuild" its video game pipeline without providing extensive details about the games sector in its recent financial updates to investors.

By the end of April, Warner Bros. Discovery's shareholders strongly supported Paramount's $111 billion acquisition.