(Reuters) -Warner Bros Discovery posted a surprise second-quarter profit on Thursday, as its subscriber based expanded from the international rollout of HBO Max and blockbuster hits like "A Minecraft Movie" boosted the studio unit.
As the company restructures into studio-focused Warner Bros and cable-centric Discovery Global, it is accelerating its global streaming expansion by bringing the Warner Bros and DC universes to international markets.
It gained 3.4 million global streaming subscribers in the
quarter ended June, fueled by the launch of rebranded HBO Max in Australia. Analysts at Visible Alpha had expected 2.71 additions.
With HBO Max's July launch in Albania, Armenia, Georgia, and nine other regions, the service is now available in more than 90 countries and territories.
"A Minecraft Movie", inspired by the iconic video game, grossed nearly $1 billion worldwide, while Michael B. Jordan starrer "Sinners" powered past $360 million at the global box office.
A title-heavy quarter led to 55% growth in studio, pushing total revenue to $9.81 billion in the second quarter and beating expectations for $9.76 billion, according to data compiled by LSEG.
The July release of DC movie "Superman" is expected to further drive growth for the company.
During the quarter, the streaming platform also saw hits like the season finale of medical drama series "The Pitt".
The company's streaming unit posted an adjusted core profit of $293 million, compared with a loss of $107 million a year ago. Advertising revenue in the segment grew 17.5%, primarily driven by an increase in ad-lite subscribers.
The company posted a quarterly profit of 63 cents per share, compared with expectations for a loss of 21 cents.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Arun Koyyur)
