09:07 AM EDT, 08/06/2025 (MT Newswires) -- Walt Disney ( DIS ) lifted its full-year earnings outlook on Wednesday as the media and entertainment giant's fiscal third-quarter results increased year over year, although revenue fell short of market expectations.

The company now anticipates adjusted earnings of $5.85 a share for fiscal 2025, up from its previous guidance of $5.75. The current consensus on FactSet is for non-GAAP EPS of $5.80.

For the three-month period ended June 28, Disney's ( DIS ) adjusted EPS climbed 16% to $1.61, surpassing the Street's view for $1.45. Revenue rose to $23.65 billion from $23.16 billion, but trailed the average analyst estimate of $23.69 billion.

"We are pleased with our creative success and financial performance in (the third quarter) as we continue to execute across our strategic priorities," Chief Executive Robert Iger said in a statement. "The company is taking major steps forward in streaming with the upcoming launch of ESPN's ( DIS ) direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition."

Disney's ( DIS ) ESPN ( DIS ) finalized an agreement with the National Football League to acquire NFL Network and certain other assets from the football league in exchange for a 10% stake in ESPN ( DIS ), the companies said late Tuesday.

In the entertainment segment, revenue ticked up 1% to $10.7 billion in the quarter, as gains of 7% in content sales and licensing and 6% in direct-to-consumer helped offset a 15% drop in linear networks. The company logged a 1% sequential increase in the number of Disney+ subscribers to 127.8 million, while Hulu's paid subscribers moved higher to 55.5 million from 54.7 million as of March 29. For the ongoing three-month period, Disney ( DIS ) forecasts a "modest" increase in Disney+ subscribers versus the previous quarter.

The experiences segment's revenue improved 8% to $9.09 billion. Domestic parks and experiences grew 10% to $6.4 billion, while the international side inclined 6% to $1.69 billion. Consumer products sales rose 3% to $992 million. The company's sports operations fell 5% to $4.31 billion.

"We have more expansions underway around the world in our parks and experiences than at any other time in our history," according to Iger. "With ambitious plans ahead for all our businesses, we're not done building, and we are excited for Disney's ( DIS ) future."

Disney ( DIS ) now expects operating income in its experiences division to rise by 8% for fiscal 2025, compared with its prior forecast for a gain of 6% to 8%. Operating income in the direct-to-consumer channel is seen at $1.3 billion. It continues to project double-digit operating income growth in its entertainment segment and an 18% increase in the sports business.