Why Disney's Stock Is Trading Higher Today

The Walt Disney Co DIS is trading higher Friday after the company announced better-than-expected financial results.

Disney reported adjusted quarterly earnings of 80 cents, which beat the estimate of 56 cents. The company reported quarterly revenue of $17.02 billion, which beat the estimate of $16.8 billion.

Disney announced that revenue from its Parks, Experiences and Products was up more than 100% year over year.

The company said its Disney+ paid subscribers reached 116 million, up from 57.5 million year over year. Hulu subscribers reached 42.8 million, representing a 21% increase year over year. ESPN+ subscribers reached 14.9 million, up from 8.5 million year over year. 

“We continue to introduce exciting new experiences at our parks and resorts worldwide, along with new guest-centric services, and our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms," said Bob Chapek, CEO of Disney.

Price Action: Disney has traded as high as $203.02 and as low as $117.23 over a 52-week period.

At last check Friday, the stock was up 5.14% at $188.50.

See also: How to Buy Disney Stock

Photo by Gary Ullah from Pixabay.