Why Disney Stock Is Soaring Today

Shares of Walt Disney (NYSE: DIS) are soaring on Wednesday. The company's stock gained 10.6% as of 1:44 p.m. ET, and gained as much as 12.1% earlier in the day. The leg up comes as the S 500 (SNPINDEX: ^GSPC) gained 0.2% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.2% on the day.

The company delivered better-than-expected quarterly results and announced plans for a new theme park in Abu Dhabi.

Disney reported its Q2 earnings this morning. The numbers handily beat Wall Street's expectations in sales and earnings. Revenue came in at $23.62 billion, up 7% year over year (YOY) and above estimates of $23.05 billion. Adjusted earnings per share (EPS) reached $1.45, up a whopping 20% and beating expectations of 1.20.

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Source Fool.com