Walt Disney Co. (DIS, Financials), the entertainment and media company, reported fiscal third-quarter adjusted earnings above Wall Street expectations as stronger streaming and theme park results lifted profit.
Adjusted earnings rose to $2.06 per share, topping the $1.85 analyst estimate. Revenue increased 7% to $25.2 billion, slightly below the $25.4 billion consensus.
Streaming provided the strongest improvement. Operating income in the direct-to-consumer business more than doubled to $712 million from $329 million a year earlier, while Disney+ and Hulu subscription revenue rose 15% to $5.53 billion.
The experiences division also remained strong. Revenue increased 10% to $10 billion, and operating profit climbed 20% to $3 billion, helped by higher domestic park attendance and gains at Walt Disney World.
Disney also agreed to sell its 50% stake in A+E Global Media to Hearst for about $1.2 billion in cash. The proceeds will support share repurchases, lifting the company's fiscal 2026 buyback target to at least $9 billion from $8 billion.
Shares rose 3.8% before the opening bell.
Investors will next watch whether streaming margins continue improving as Disney shifts more intellectual-property monetization closer to its studio business.