Walt Disney reported quarterly earnings that exceeded market expectations, with its theme parks and streaming operations providing key support. The results came amid continued concern about the impact of a softer global economy.
Disney posted net profit of $2.6 billion for the third quarter. That was about half the figure recorded a year earlier, when earnings benefited from a substantial one-time tax advantage, making the year-on-year comparison less favorable.
The company also announced a partnership involving TikTok, adding a new digital platform development to its quarterly update. Investors responded positively, sending Disney shares up 3.65% after the earnings report.
