Disney Shares Jump On Street-Beating Quarter

The company's biggest segment by revenue -- media networks -- eeked out year-over-year growth of 2%, rising to $3.62 billion from $3.55 billion. The company cited higher affiliate revenue at ESPN, ABC Family and the domestic Disney Channel, which offset a decline in advertising revenue.

Shares of other entertainment and media concerns rose Wednesday: Viacom(VIA Quote) stock climbed nearly 6%, Time Warner(TWX Quote) was up 2%, and News Corp.(NWS Quote) gained 6%.