Disney Holding On To Notable Gain In Afternoon Trading

(RTTNews) - After gapping open higher, shares of Walt Disney Co. (DIS) continue to see considerable strength in afternoon trading on Friday. Disney is currently up by 1.6 percent after reaching a nearly three-year intraday high.

The advance by Disney comes after the entertainment giant reported fiscal fourth quarter results that beat analyst estimates on both the top and bottom lines.

Disney reported fourth quarter adjusted earnings of $1.48 per share on revenues of $14.3 billion, while analysts had expected earnings of $1.34 per share on revenues of $13.7 billion.