NEW YORK (TheStreet) -- Shares of The Walt Disney Company
(DIS - Get Report) 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.
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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.
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