Shares of The Walt Disney Company surged Thursday as fourth-quarter revenue and adjusted profit topped analysts' estimates and the entertainment giant laid out initial projections for the next three fiscal years.

Disney on Thursday reported fourth-quarter adjusted profits that surpassed Wall Street's expectations. Driven by strong performances from its entertainment division and streaming services, these results highlight the company's successful strategy in capitalizing on high-demand content and digital offerings.

Disney’s lates quarter was mixed but solid with a big upswing in studio profit led by 'Deadpool & Wolverine' and 'Inside Out 2'. Streaming was in the black and domestic theme parks saw a profit.

Disney’s fourth-quarter adjusted profit beat Wall Street’s expectations, bolstered by strong results from its streaming service and box office success with “Inside Out 2” and “Deadpool & Wolverine.”

The biggest problem with Disney was the lack of clarity on how things were going to find out, you know, in fiscal 2025 and obviously in the future. And with them kind of giving us that detail line by line item kind of guidance,

Old Hollywood is finally doing what Netflix Inc. has been doing for over a decade: making money from streaming.

Walt Disney Co. saw streaming profits grow in the latest quarter, underscoring progress on the company’s effort to transform direct-to-consumer distribution, recently a loss-making endeavor, into a financial engine.

The media giant's streaming services, which include Disney+, Hulu and ESPN, posted $321 million in operating income in its fourth quarter.