Disney Beats Wall Street Estimates with Third-Quarter Profit Growth

Walt Disney Co.'s fiscal third-quarter profit growth was driven by strong performance from its entertainment division and theme parks in California and Florida. The company's earnings per share, excluding some items, rose to $2.06 in the period, beating the average analyst estimate of $1.86 compiled by Bloomberg. This marks the second straight quarter of better-than-expected profitability for Chief Executive Officer Josh D'Amaro.

The operating income was $5.56 billion, surpassing forecasts of $5.24 billion. Disney's streaming business and theme parks continued to show resilience in the face of economic uncertainty. The company's ability to adapt to changing consumer habits and preferences has been a key factor in its success.