Disney Theme Parks, Streaming Drive Earnings Surprise

Disney's latest earnings exceeded expectations, driven by its theme parks and streaming businesses. The company reported adjusted earnings per share of $2.06 for the third quarter, beating market forecasts of $1.86.

The growth was led by Disney's theme park business, which generated $9.97 billion in revenue, up 10% year over year. This performance was stronger than its competitors, with NBCUniversal reporting a decline in visitor numbers at its Universal Studios theme park in Orlando.

Disney's streaming business also continued to gain momentum, posting third-quarter revenue of $5.53 billion, up 11% year over year. The company's sports segment saw revenue rise 4% to $4.5 billion, with viewership for the NBA and NHL playoffs surging.