Disney Crushes Q3 Earnings with Toy Story Box Office Boom

The Walt Disney Company reported strong third-quarter earnings, driven by the success of its theme parks and the box office performance of 'Toy Story' films.

The Burbank-based entertainment giant earned $2.06 per share, a 28% increase from the same quarter last year, when it made $1.61 per share.

Total revenue for the quarter reached $25.2 billion, up 6.5% from $23.7 billion in the prior-year period.

The company's entertainment segment saw a 6% jump in revenue to $11.35 billion, while its experiences segment, which includes theme parks, reported a 10% increase in revenue to nearly $10 billion.

In a statement, Disney CEO Josh D'Amaro credited the success of 'Toy Story' films for driving earnings power, noting that the franchise has earned more than $4 billion globally and over 2 billion streaming hours on Disney+.