LONDON (ShareCast) - (Sharecast News) - Disney's stock price jumped on Thursday morning after the media and entertainment giant impressed with its fourth-quarter earnings, helped by blockbuster releases Deadpool & Wolverine and Inside Out 2, and published bullish guidance for the next financial year.
Adjusted earnings per share was up 39% year-on-year in the fourth quarter ended 28 September at $1.14, compared with the $1.10 expected by the market. Total operating income increased by 23% to $3.66bn.

Disney said Pixar's Inside Out 2 and Marvel's Deadpool & Wolverine broke numerous box office records and helped drive $316m in operating income from content sales and licensing during the quarter.

Meanwhile, the company ended the quarter with 174m Disney+ Core and Hulu subscriptions, and more than 120m Disney+ Core paid subscribers - an increase of 4.4m over the three-month period.

Meanwhile, revenues were up 6% at $22.57bn, beating the $22.45bn consensus forecast.

Disney said the fourth quarter was "one of the best quarters in the history of our studio", pushing the stock up 8.2% to $111.11 by 1045 in New York.

Looking ahead, the company is targeting high-single digit adjusted EPS growth in the year ending September 2025, followed by double-digit growth in the following two years.

"This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we've made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future," said chief executive Bob Iger.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE