Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for the streaming platform since its inception. Max now had 110.5 million subscribers as of Sept.

Warner Bros. Discovery posted better-than-expected earnings as its Max streaming service set a record for new subscribers, sending shares higher Thursday.

Warner Bros. Discovery stock rose on momentum in the Max streaming biz and the potential for Trump to grease the wheels for industry consolidation.

Warner Bros. Discovery reached 110 million global streaming subscribers and $268 million in earnings in Q3, putting it on pace for sustained profits.

Warner Bros. Discovery swung to its first quarterly profit in more than two years after it posted better-than-expected growth in streaming subscribers. Shares surged over 14% Thursday morning, on pace for their best day since January 2022 if gains holds through the session.

Warner Bros. Discovery made profit progress in its streaming business during the latest quarter, despite pressures related to broadcasting the Olympics in Europe.

Warner Bros. Discovery stock rose in early trading on Thursday after the company reported strong streaming results in the third quarter.