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 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 (WBD) stock rose nearly 12% 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 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,