Disney Enjoys Earnings Beat

Disney (NYSE: DIS) shares shot up Friday, after it reported an earnings beat for its fiscal fourth-quarter on Thursday.

Earnings per share came in at $1.07, adjusted, vs. 95 cents expected. Revenue was $19.1 billion vs. $19.04 billion expected.

Disney’s fiscal fourth-quarter earnings arrive just days before the company’s long-awaited streaming service, Disney+, is set to launch on November 12. The service costs $6.99 per month, or $69.99 per year, and will feature content from Disney, Pixar, Marvel, Star Wars and more.

CEO Bob Iger told the media the platform is "ready to go" following a test in the Netherlands that he said was “quite successful.” Later, on a call with investors, Iger said the demographics of those using the service "were far broader than a lot of people expected them to be."

Iger also said that Disney+ will be distributed on Amazon’s Fire TV as well as through Samsung and LG smart TVs. Amazon said in a release that Fire TV and Fire Tablet customers can get a free seven-day trial of Disney+ through their devices starting Nov. 12. Disney previously announced that Disney+ will be available on Android, iPhone, iPad, Apple TV and Roku devices.

For Disney’s other segments, the company’s media networks brought in $6.5 billion in revenue for the quarter. Revenue for parks and resorts came in at $6.7 billion. Studio entertainment revenue was $3.3 billion for the quarter and direct-to-consumer, $3.4 billion.

Disney’s park in Hong Kong seems to have taken a hit as a result of protests in the region.

Shares gained $5.37, or 4%, to $138.33 Friday morning.