The stock were rising 5.87% to $140.77 a share in postmarket trading.
Here were the headline numbers:
Disney posted adjusted earnings per share for the quarter of $1.07, beating Wall Street estimates of $0.95. Revenue was $19.01 billion, narrowly missing analysts expectation of $19.04 billion.
Here were some notable highlights for the quarter:
Direct-to-consumer revenue rose 325% to $3.4 billion in the quarter, compared to $800 million in the same period last year. Now that Disney has acquired a controlling interest in Hulu, it's recognizing 100% of Hulu's operating results as opposed to a percentage of them.
The segment posted an operating loss of $740 million, compared to last year's loss of $340 million, but the company said "the decrease at Direct-to-Consumer & International was due to the consolidation of Hulu, our ongoing investment in ESPN+ and costs to support the launch of Disney+."
Elsewhere, studio entertainment revenue grew 52% to $43.3 billion on the strength of movies such as The Lion King and Aladdin.
Management may unveil full year 2020 guidance on its earnings call. "Based on our conversations with investors, there is an expectation that Disney will provide EPS guidance for fiscal year 2020 (ending 9/30/20), in a departure from its past practice," wrote Goldman Sachs analyst Drew Borst in a note before the earnings.
Analysts at Goldman Sachs and Morgan Stanley said investors expect Disney to guide for full year 2020 EPS of between $5 and $5.50.