Shares of Disney (DIS) were rising after the media giant posted second quarter 2019 earnings and revenue that beat expectations.
The stock was rising 0.97% to $136.30 a share in post-market trading Wednesday, after having risen 1.28% in regular hours.
Earnings per share came in at an adjusted $1.61, slightly ahead of Wall Street's expectations of $1.59. Revenue was $14.92 billion, beating analyst's estimates of $14.54 billion.
Direct-to-Consumer and International (DCTI) revenue increased 15% to $955 million and segment operating loss increased from $188 million to $393 million.
"We're very pleased with our Q2 results and thrilled with the record-breaking success of Avengers: Endgame, which is now the second-highest grossing film of all time and will stream exclusively on Disney+ starting December 11th," said Bob Iger, chairman and CEO. "The positive response to our direct-to-consumer strategy has been gratifying, and the integration of the businesses we acquired from 21st Century Fox only increases our confidence in our ability to leverage decades of iconic storytelling and the powerful creative engines across the entire company to deliver an extraordinary value proposition to consumers."
Analysts have been moving Disney's price target up, as they expect the company to accrue as many as 125 million streaming subscribers over the next several years.
Analysts are looking for revenue and EPS of $68.11 billion and $6.64 for all of 2019.
Disney's stock has increased 24% this year.