Aug 7 (Reuters) - Warner Bros Discovery ( WBD ) 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)