The stock gained $4.25 to trade at around $98.35, shortly after Disney chief Bob Iger discussed the quarterly results. Disney’s stock closed at $94.10 on Tuesday, before the results were released.
All five of Disney’s divisions — media networks, parks and resorts, the studio, consumer products and Disney interactive — posted better-than-expected results for the holiday quarter that ended Dec. 27.
Nearly every division at Disney reported double-digit profit gains as the company’s revenue climbed 9% to nearly $13.4 billion, while net income rose 19% to around $2.2 billion during the period.
The company had ended its fiscal 2014 year also with record earnings.
That and a strong start to the year caused analysts to stand by their positions.
“We see continuing creative momentum,” S&P Capital IQ’s equity analyst Tuna Amobi said of Disney’s outlook for the rest of the year, reiterating the company’s buy rating for the Mouse House’s shares. “While ESPN sports programming costs notably weighed on the cable networks unit (vs. solid gains in broadcasting), we otherwise note robust and broad-based double-digit segment gains, including parks and resorts, film studio, consumer products, and interactive.”