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Disney gains as earnings top forecast, ESPN-lead sports division sees solid gains

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Disney add more subscribers, while squeezing more profits from its Parks division, as the media and entertainment giant looks to grow cash flows 'significantly' in the coming year.

posted better-than-expected fourth earnings Wednesday, while adding a solid number of new subscribers to its core streaming division as it forecast 'significant' free cash flow growth for the coming fiscal year.

"Our results this quarter reflect the significant progress we've made over the past year. While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again," said CEO Bob Iger. Disney's reporting was condensed into three new reporting segments in today's earnings report, with ESPN will sit largely in a stand-alone Sports division for the first time in the company's history.

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