Shares of The Walt Disney Company (DIS) surged Wednesday after the media and entertainment giant's fiscal second-quarter results came in better than analysts had expected.

Disney reported adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $1.45 on revenue of $23.62 billion. 澳洲幸运5开奖号码历史查询:Analysts had expected $1.20 and $23.17 billion, respectively, per Viꦿsible Alpha.

"Following an excellent first half of the fiscal year, we have a lot more to look forward to, including our upcoming theatrical slate, the launch of ESPN’s new DTC offering, and an unprecedented number of expansion projects underway in our Experiences segment," CEO Bob Iger said. "Overall, we remain optimistic about the direction of the company and our outlook for the remainder of the fiscal year."

Separately on Wednesday, Disney announced a partnership with Abu Dhabi-based developer Miral to build its seventh theme park on Yas Island in the capital of the United Arab Emirates. The companies said that Disney will lead the creative efforts, while the resort will be built and operated by Miral.

Disney Lifts Full-Year Profit Outlook

Disney lifted its adjusted EPS outlook for the fiscal year to $5.75, which would represent a 16% increase from fiscal 2024. Last quarter, it said it expected adjusted EPS to grow by a high-single-digit percentage.

The company said it will "continue to monitor macroeconomic developments for potential impacts to our businesses and recognize that uncertainty remains regarding the operating environment for the balance of the fiscal year."

Disney shares were up 10% shortly after markets opened. They entered the day down roughly 17% since the start of the yea🦄r.

Disney+ Subscribers Grow When 'Modest Decline' Expected

澳洲幸运5开奖号码历史查询:Last quarter, the company said it expected a "modest decli🎐ne in Disney+ subscribers compared to Q1," when it posted 124.6 million. It reported an increase to 126.0 million Disney+ subscribers in Q2, while analysts had expected 123.6 million. For the third quarter, Disney said it expects a ꦕ"modest increase in Disney+ subscribers compared to Q2."

UBS analysts said ahead of Wednesday's report that they expected a solid quarter, but said the current economic uncertainty and a potential downturn or recession could lead to pressure on Disney's advertising and experiences revenue.

UPDATE—This article has been updated with the latest share price information.