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NEW YORK — Shares in Disney skyrocketed on Thursday after the entertainment giant delivered better-than-expected results for its fourth fiscal quarter, driven by the success of "Deadpool & Wolverine" and "Inside Out 2."The shot of good news comes as CEO Bob Iger is trying to navigate the company through a trying time for the media business.Iger, who returned as CEO in November 2022, has prioritized profitability through reduced content spending and price increases.
As a result, content sales and licensing revenue, which includes movies, jumped 39 percent year-over-year.Streaming was another growth driver, with revenue up 15 percent year-over-year.Disney+ gained 4.4 million net subscribers from the previous quarter, reaching 122.7 million accounts.Growth was stronger internationally, up 5 percent, than in North America which was up 2 percent. The streaming business, long unprofitable, is now profitable, the company said.
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