Walt Disney Stock: Soars on Stellar Earnings, Streaming Profits

Walt Disney's stock experienced a remarkable surge on Thursday, climbing 10.6% to $113.56 following the release of unexpectedly positive quarterly results. The entertainment giant reported a significant increase in earnings per share, reaching $1.44 compared to $0.14 in the previous year. Revenue also showed solid growth, rising 8.69% to $23.05 billion. This impressive performance was bolstered by the company's streaming business, which turned profitable for the first time, contributing $321 million in operating profit.

Optimistic Outlook Fuels Investor Confidence

Looking ahead, Disney has set ambitious targets, forecasting double-digit growth in adjusted earnings per share for fiscal years 2026 and 2027. Analysts remain bullish, setting an average price target of $127.50, despite the stock still trading 8.22% below its 52-week high. The anticipated resumption of dividend payments, coupled with projected earnings of $4.95 per share for 2024, has further enhanced the stock's appeal to investors. This positive sentiment is reflected in Disney's strong performance on Wall Street, where it led gains in the Dow Jones Index.