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

The entertainment company swung to its first quarterly profit in more than two years after it posted better-than-expected growth in streaming subscribers.

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,

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.