NEW YORK (TheStreet) -- Shares of The Walt Disney Company
(DIS) are up 0.18% to $86.91 in after-hours trading following its third quarter earnings results that were ahead of analysts' expectations.
The entertainment company reported a 27% increase in adjusted earnings for the third quarter to $2.24 billion, or $1.28 per share, up from $1.01 per share in the same quarter of 2013, and beating analysts' estimates of $1.17 per share.
Revenue increased 7.6% year-over-year to $12.46 billion for the quarter, higher than the $12.16 billion analysts' expected.
Must Read: Warren Buffett's 25 Favorite Stocks
At Disney-owned sports network ESPN, the company said higher revenue reflected the benefit of the FIFA World Cup soccer tournament.The growth in consumer product sales tied to its movie "Frozen" boosted Disney's results, helping the company's income in its worldwide home entertainment segment.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts