Disney Reaches for Double-Digit Growth with $9 Billion Buyback Plan

Disney's fiscal third-quarter results have investors smiling, despite missing analyst revenue expectations. The entertainment giant grew its revenue by 7% year over year to $25.2 billion and net income increased by 23% to over $3.8 billion, or $2.06 per share.

The company's theme parks segment posted the highest revenue growth rate at 10%, thanks in part to annual admission price raises and a boom in travel and tourism. The take for theme park admissions rose 9% to nearly $3.3 billion.

Disney reaffirmed its existing double-digit earnings growth guidance, aiming for either 12% or 16% adjusted EPS growth over the previous year, depending on whether you count the extra reporting week. It also raised its share repurchase target to a whopping $9 billion this fiscal year, up from $8 billion previously.