BURBANK, Calif. (AP) — The Walt Disney Co. (DIS) on Thursday reported fiscal fourth-quarter earnings of $2.32 billion.

The Burbank, California-based company said it had net income of $1.55 per share. Earnings, adjusted for non-recurring gains, were $1.48 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.

The entertainment company posted revenue of $14.31 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $13.81 billion.

Disney shares have risen almost 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. In the final minutes of trading on Thursday, shares hit $115.65, a rise of 14 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DIS at https://www.zacks.com/ap/DIS

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