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 a third-quarter profit gain to $289 million for its direct-to-consumer (DTC) unit, which includes its streaming and premium pay-TV services, compared with a $111 million year-ago profit.

Warner Bros. Discovery's Max serves fewer ads per hour compared to other streaming platforms.

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

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