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.