Warner Bros. Discovery Inc.’s stock rocketed after the opening bell Thursday, after the entertainment giant provided upbeat guidance for streaming in 2025 that offset quarterly earnings that lagged behind estimates.

Warner Bros. Discovery posted a fourth-quarter loss as the company grappled with $1.9 billion in charges and restructuring expenses, even as the company added 4.6 million subscribers to its streaming outlets.

Warner Bros. Discovery posted a bigger loss than Wall Street was expecting Thursday, as a slump in advertising spending dragged on revenue for its TV networks. But investors didn’t appear too fazed by the media conglomerate’s latest results,