The Walt Disney Company reported fiscal second-quarter results that exceeded Wall Street expectations.
Revenue reached $25.17 billion, surpassing the $24.87 billion analyst forecast. Adjusted profit hit $1.57 per share, beating the $1.49 estimate.
Direct-to-consumer streaming revenue increased 13% during the period. The Experiences segment also contributed to the strong quarterly performance.
Disney raised its fiscal year stock buyback target to at least $8 billion from a previous $7 billion goal. The company now projects full-year adjusted earnings per share growth of approximately 12%.