NEW YORK — Entertainment giant Walt Disney Company reported Wednesday a robust increase in quarterly revenues, sending its share price soaring more than six percent in pre-session trading on Wall Street.

The company said overall sales increased seven percent to $23.6 billion in the January to March period, with subscribers to its Disney+ streaming service growing to 126 million, adding 1.4 million new subscriptions since the previous quarter.

The gain in subscribers came as analysts widely expected a decline in the period.

It still trails Netflix in the quest for subscribers, which are estimated at about 300 million, even though the company has stopped publishing its precise sign-up figures.

Disney said it expects a modest increase in subscribers in its current quarter.

On the back of the subscriptions, Disney's Entertainment division showed particular strength, with revenues reaching $10.68 billion, up 9 percent year over year.

'Makes no sense': Hollywood shocked by Trump's film tariffs announcement

While a live action version of "Snow White" as well as "Captain America: Brave New World" underperformed, 2024 releases "Mufasa: The Lion King" and "Moana 2" did well."

Our outstanding performance this quarter underscores our continued success building for growth and executing across our strategic priorities," said Disney CEO Robert Iger in a statement.

The Experiences segment, which includes theme parks and consumer products, saw revenue increase to $8.9 billion. 

Domestic Parks & Experiences operating income grew an impressive 13 percent to $1.8 billion.

Netflix to increase prices in June as PH digital tax law takes effect

However, the effects of US President Donald Trump's economic policies, as well as any effects of toughened scrutiny at the US border against foreign tourists, will be a subject of concern for the coming quarters.

The Sports segment experienced a decline, with operating income falling to $687 million, down $91 million from the previous year.Disney attributed this to higher programming costs from additional College Football Playoff and NFL games.

© Agence France-Presse