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

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

Warner Bros. Discovery posted a surprise profit and revealed that its streaming service Max had had its best-ever quarter on Thursday, sending its stock higher.The company, which is the parent of the movie studio Warner Bros.

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