Walt Disney Co. saw streaming profits grow in the latest quarter, underscoring progress on the company’s effort to transform direct-to-consumer distribution, recently a loss-making endeavor, into a financial engine.

Walt Disney Co. posted fiscal fourth-quarter sales and profit that beat Wall Street estimates and forecast earnings growth for the next three years, a rare event for a company that historically hasn’t made long-range profit projections.

Disney ended its 2024 fiscal year with 122.7 million Disney+ Core paid subscribers, a gain of 4.4 million subs in the September quarter.

Revenue for Disney's entertainment segment – which includes the traditional TV networks, direct-to-consumer streaming and films – increased 14% year over year.