Walt Disney Co (DIS.N) profits for the most recent quarter above Wall Street estimates on Thursday, as its streaming services drew more consumers than expected and the pandemic-hit U.S. amusement parks returned to profitability.
In after-hours trading, the entertainment company’s stock climbed 5%. Prior to the results announcement, shares had been about flat since the beginning of the year.
Even as Covid instances increased, Disney Chief Financial Officer Christine McCarthy stated that forthcoming theme park reservations at the company’s two U.S. sites, including the flagship Walt Disney World, remained robust.
“We remain optimistic about our parks business moving forward,” CEO Bob Chapek said on a conference call with analysts. According to officials, reservations are presently surpassing attendance for the most recent quarter.