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 (WBD) stock rose more than 15% in early trading on Thursday after the company reported strong streaming results in the third quarter that included its largest-ever quarterly subscriber growth since the launch of Max.

Warner Bros Discovery CEO David Zaslav anticipates a friendlier environment for deal-making under the incoming Trump administration, opening the door to industry consolidation, he said on Thursday. "That would provide real positive and accelerated impact on this industry that's needed,

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 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 posted a surprise third-quarter profit on Thursday as the Paris Olympics powered streaming subscriber growth and cable revenue, making up for a lack of major box office hits from its studio.