Warner Bros. Discovery (NYSE: WBD) reported a surprising turnaround in its third-quarter financial results, posting earnings that beat Wall Street expectations. The entertainment giant posted earnings of $0.05 per share, a significant rebound from a loss of $0.17 per share in the prior-year period and a stark contrast to analysts’ expectations for a loss of $0.24 per share. Despite the earnings beat, WBD’s revenue missed expectations, falling 3% to $9.6 billion versus the $10.3 billion expected. The TV Networks segment was a notable contributor to revenue, rising 3% to $5.01 billion, largely due to the sublicensing of Olympic sports rights across Europe. In its quest to strengthen its presence in the streaming space, WBD's Max platform has been a critical growth driver, achieving its strongest quarterly subscriber growth since its inception.