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.

Investors pushed Warner Bros. Discovery stock to its highest levels in nearly nine months, rallying behind progress on its Max streaming business and the possibility that a Donald Trump administration could grease the wheels for industry consolidation.

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 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. WBD’s direct-to-consumer segment posted adjusted earnings before interest,