(Reuters) - Walt Disney Co (DIS.N) reported higher quarterly revenue that beat analyst expectations as advertising held strong at the company’s ESPN sports channel and other media networks.
Shares of the company rose 2 percent to $35.30 after hours, up from an earlier close of $34.64.
The operator of networks ESPN and ABC, a movie studio and theme parks, reported fiscal fourth-quarter revenue of $10.43 billion — a 7 percent gain from a year earlier.
Net income for the quarter rose 30 percent to $1.1 billion. Earnings per share came in at 58 cents.
Disney had been expected to show stronger results at media networks after rivals including Comcast Corp (CMCSA.O), Time Warner Inc (TWX.N) and News Corp (NWSA.O) reported gains propelled by a healthy advertising market.
Reporting by Lisa Richwine, editing by Bernard Orr