Walt Disney reported quarterly earnings that beat Wall Street's expectations as revenue at its parks and resorts grew, but revenue still came up short of analysts' forecasts on Tuesday.
After the earnings announcement, the entertainment company's shares fell slightly in trading after the closing bell. (Click here to get the latest quotes for Disney.)
Net income rose 24 percent to $1.83 billion from $1.48 billion last year.
The company posted fiscal third-quarter earnings excluding items of $1.01 per share, up from 78 cents a share in the year-earlier period.
Revenue rose 4 percent to $11.09 billion from $10.68 billion a year ago.
Analysts had expected the company to report earnings excluding items of 93 cents a share on $11.31 billion in revenue, according to a consensus estimate from Thomson Reuters.
The company said revenue was lifted by strong advertising at its cable networks and the blockbuster performance of its superhero movie "The Avengers." Sales from parks and resorts rose 9 percent.
"The consumer is still flocking to productions they deem valuable and good, so we've not had a problem attracting them to our parks and resorts," Disney CEO Robert Iger told CNBC. "And when they go, their spending is up nicely from a year ago."
"As we look into the future, we see a relative strong environment for raising subscription fees for the channels we have," Iger added.
Before the company's release, Peter Costa, Empire Executions president, commented on what Disney's performance may say about the broader U.S. economy.
"When Disney is doing well and theme park revenues are up, obviously people are spending more money," Costa told CNBC. "That's almost better than some of the consumer sentiment data. This is a very powerful stock."
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