Disney shares rose after the company reported fiscal third-quarter profit ahead of estimates, with its experiences unit—which includes theme parks—posting a 20% increase in profit. Theme parks revenue climbed 10% to $10 billion, driven by strong domestic demand and a standout quarter at Walt Disney World, even as customer spending at parks rose 3% year over year. The entertainment segment saw profit surge 64%, aided by streaming revenue despite a lack of major theatrical releases. In contrast, the ESPN segment showed weakness, partly due to the timing of sports rights payments. The results come during CEO Josh D'Amaro's second quarter at the helm, though the stock remains down 14% year to date.
Walt Disney CompanyQ3 profit beat estimates, with experiences and entertainment segments driving gains.
