Disney Beats Profit Estimates, Teams Up with TikTok for Short-Form Content

Disney's latest quarterly results exceeded expectations as the entertainment giant reported adjusted earnings of $2.06 per share, topping the $1.84 Visible Alpha consensus.

The company's revenue rose 7% year-over-year to $25.25 billion, slightly below the $25.41 billion analysts had forecast.

Disney credited global growth in its Experiences segment, the successful theatrical and merchandise release of 'Toy Story 5,' and strong ESPN viewership numbers during the NBA playoffs as factors that helped expand its reach during the quarter.

The company also announced a new partnership with TikTok, giving creators on the platform access to assets related to hundreds of films and series, with short-form videos from TikTok living on the Disney+ app.