Shares of The Walt Disney Company (DIS) surged 9% Thursday morning 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 reported $22.57 billion in revenue, up from $21.24 billion last year and narrowly above the $22.50 billion 澳洲幸运5官方开奖结果体彩网:analysts expected, according to Visible Alpha. It posted net income of $460 million, or 25 cents per share, well below estimates of $1.74 billion, or $0.96 per share.

After accounting for about $1.5 billion in one-time charges like restructuring costs, Disney's adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) came in at 💞$1.14, just above estimates of $1.11.

Disney said it expects high-single-digit adjusted EPS growth in fiscal 2025 and double-digit growth in fiscal 2026 and 2027, as well as an estimated $3 billion in stock buybacks over the next year. It also projects streaming services operating income to increase by $875 million next year from fiscal 2024, and Experiences segment operating income to grow by 6% to 8%, "weighted to the second half of the year."

Streaming Profit Jumps To $321 Million

Disney's streaming business—comprised of Disney+, Hulu, and ESPN+— recorded an operating profit of $321 million after posting a combined profit for the first time last quarter at $47 million. 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Bob Iger 澳洲幸运5官方开奖结果体彩网:said last quarter thatꦕ Disney expects the services to "grow niceꦯly in fiscal 2025."

Following positive subscriber numbers from 澳洲幸♏运5官方开奖结果体彩网:competitors like Warner Bros. 🔯Discovery’s (WBD) Max and Netflix (NFLX) in 澳洲幸运5官方开奖结果体彩网:recent weeks, Disney said it gained 4.4 million Disney+ subscr🔯ibers in the quarter.

Revenue in Disney's Experiences segment, which includes its theme parks and cruise ships, was $8.24 billion, up slightly from $8.16 billion last year as slower discretionary spending from consumers 澳洲幸运5官方开奖结果体彩网:has impacted the division in recent quarters.

Disney's succession planning has also returned to focus after the 澳洲幸运5官方开奖结果体彩网:company said last month that it plans to announce Iger's replacement in early 2026. The Wall Street Journal reported Tuesday that the company is reviewing internal candidates along with a number of outside contenders for the job, including Andrew Wilson, CEO of Electronic Arts (EA).

Disney shares jumped to $111.68 after markets opened, below their 2024 peak of $123.7🌼4 set on March 28 but up 23% year-to-date.

CORRECTION—This story has been updated to fix the streaming profit figure.

UPDATE—This story has been updated with Disney's outlook and the latest share price information.