<body><p>STORY: Walt Disney is kicking off a new era, and Wall Street liked what it heard.</p><p>Shares surged as much as 8.5% in Wednesday trading after the company reported quarterly results that topped analysts' expectations.</p><p>:; Disney</p><p>It was also the first earnings call for new Disney CEO Josh D'Amaro, who took over from longtime chief executive Bob Iger in mid-March.</p><p>D'Amaro used the moment to lay out his vision for the company, vowing to stay focused on creative excellence, grow Disney's streaming business, and keep investing in theme parks and cruise lines.</p><p>At its entertainment division, operating income jumped 6% for the quarter, boosted by higher subscription and ad revenue from streaming services including Disney+. </p><p>:; Disney</p><p>Theme parks told a more mixed story. Guests who did visit spent more — but overall attendance was down, partly due to fewer international tourists. </p><p>Disney noted that it is "not immune" from the impacts of rising gas prices — and that a further increase could lead to more changes in consumer behavior.</p><p>Meanwhile, the company's sports division, home of ESPN, faced pressure from rising programming costs. But executives pushed back on any notion that ESPN is fading — calling it the world's biggest sports media brand and an "important contributor" to the company's portfolio.</p><p>:: Particle6</p><p>Archive</p><p>D'Amaro also addressed AI, saying it presented "meaningful long-term opportunities," including the potential to make production more efficient, but that human creativity would remain at Disney's core.</p></body>
