Shares of the Walt Disney Co., rose in premarket trading Friday after the company beat Wall Street estimates when it reported results for its latest quarter.
The stock is up $ 1.38, or 4 percent, to $ 36.02 in premarket trading, after rising 2.5 per cent on Thursday.
Late Thursday, the House of Mickey Mouse reported revenues of $ 1.09 billion, or 58 cents per share, for the fiscal fourth quarter. It is up to 30 percent from a year earlier, thanks to higher spending by visitors to the Parks Disney and growth on the Disney Channel and ESPN.
Excluding one-time items, adjusted earnings came to 59 cents a share, beating the 54 cents expected, on average, by analysts polled by FactSet.
Revenues increased 7 percent to $ 10.43 billion, beating 10.37 billion analysts on average.