02:56 PM EDT, 07/08/2025 (MT Newswires) -- Warner Bros. Discovery's ( WBD ) Q2 results are expected to show a "solid" improvement in streaming and studios profitability, UBS said in a note emailed Tuesday.

Meanwhile, Warner's networks' earnings before interest taxes, depreciation, and amortization is expected to be dented by top-line pressure and overlapping sports rights, UBS added.

UBS estimates Q2 revenue of $9.86 billion and adjusted EBITDA of $1.91 billion, higher than its previous guidance of $9.83 billion in revenue and $1.86 billion in EBITDA.

UBS expects Warner global networks adjusted EBITDA of $1.46 billion in Q2, down from almost $2 billion a year earlier. The firm also estimates studios adjusted EBITDA of $693 million, versus $210 million a year earlier, as well as profitability of $292 million in streaming, compared with a loss of $107 million last year.

UBS maintained its neutral rating on Warner's stock, but raised its price target to $10 from $9.

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