Warner Bros. Discovery Stock Soars in 2025 After Record 7.2M Max Subscribers Boost Q3 Earnings
Warner Bros. Discovery outperforms expectations with a historic surge of 7.2 million new Max subscribers in Q3 2025, driving stock prices upward despite mixed revenue results.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading teams in delivering impactful news coverage on major global events.
Highlights
- Warner Bros. Discovery beats earnings forecasts fueled by a record-breaking subscriber increase on its Max streaming platform.
- The entertainment giant gained 7.2 million Max subscribers in Q3 2024, the largest quarterly growth since launch.
- Shares jumped nearly 11% post-earnings announcement, though the stock remains down year-to-date.
In 2024, Warner Bros. Discovery (WBD) saw its shares surge after announcing Q3 results that exceeded analyst expectations. The company’s Max streaming service achieved a milestone by adding 7.2 million subscribers, pushing total subscribers to 110.5 million.
WBD reported a net profit of $135 million, or 5 cents per share, reversing last year’s losses for the same quarter. Despite this, total revenue declined by 4% to $9.62 billion, falling short of projections.
Max Streaming Subscriber Growth Drives Direct-To-Consumer Revenue Up 8%
The Direct-To-Consumer segment saw revenue climb 8% year-over-year to $2.63 billion, thanks to the strong Max subscriber growth. Meanwhile, the Network division’s revenue increased by 3% to $5.01 billion. However, the Studios unit experienced a 17% revenue decline, totaling $2.68 billion.
Warner Bros. Discovery’s stock gained nearly 11% during intraday trading on Thursday, reflecting investor optimism about the streaming service’s momentum. Despite this rally, shares have dropped by nearly 20% since the beginning of 2024.
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