Shares of Walt Disney (NYSE: DIS) were moving higher this afternoon as the latest earnings report from the entertainment giant showed it making progress on its streaming business and it announced another price hike on its streaming services. While the headline results were mixed, that momentum was enough to give the stock a lift and shares were up 5.4% as of 3 p.m. ET. In its fiscal third-quarter earnings report, revenue increased 4% to $22.3 billion, which was slightly short of the consensus at $22.5 billion.
The stock market moved higher on Thursday, although major market benchmarks pulled back from larger gains earlier in the morning. Investors celebrated continued slow inflation, but some persistent price pressures in the core CPI reading gave some market participants pause. One big contributor to the Dow's gain was Disney (NYSE: DIS), which reported its quarterly financial results late Wednesday.
Disney's (DIS) third-quarter fiscal 2023 results reflect a solid revival in the domestic and international theme park businesses.