Warner Bros. Discovery management's proactive approach and ability to generate value in tough conditions will benefit shareholders long-term. Read more on WBD stock.

Warner Bros Discovery posted a surprise second-quarter profit on Thursday, as the international rollout of HBO Max sent subscriber numbers climbing and blockbuster hits like “A Minecraft Movie” dominated the U.

A tough bounce — the loss of rights to show NBA games — likely crimped Warner Bros. Discovery’s ability to attract advertising dollars during the most recent TV “upfront” market, with the company declining to reveal its level of ad commitments despite most of its rivals having done so.