Disney Beats Earnings Expectations on 'Toy Story 5' and Theme Park Strength

Disney's third quarter earnings showed significant growth, thanks in part to its popular 'Toy Story 5' movie and increased attendance at US theme parks. The company's Experiences division, which includes its six global theme parks, reported a 20% increase in operating income to $3.02 billion and revenue totaling $9.97 billion.

The growth was driven by a 27% increase in operating income at domestic parks, while international parks saw a decline of 13%. Overall attendance at US parks climbed 3% from the previous year, with an increase in attendance from domestic tourists and annual passholders contributing to the growth.

Disney's earnings were also boosted by summer promotions and new experiences being offered at the parks. The company earned $2.64 billion, or $1.51 per share, for the three months ended June 27, easily topping analyst predictions of $1.86 per share.