Walt Disney stock was rising on Wednesday after Toy Story 5 and a surge in theme-park footfall helped the entertainment company top analysts' third-quarter earnings target.

It's the second straight earnings beat for CEO Josh D'Amaro, who replaced Bob Iger in March and is trying to convince investors he can turn around the House of Mouse following a lost decade for shares.

Disney stock rose 3.2% to $101.40 in early trading. The S&P 500 and Dow were up 0.6% and 0.8%, respectively.

The gains came after Disney reported adjusted earnings of $2.06 a share, as revenue rose 7% from a year ago to $25.2 billion. Wall Street was looking for earnings of $1.86 a share on revenue of $25.4 billion, according to a FactSet poll.

The company also stood by its guidance for fiscal 2026, which forecasts adjusted earnings-per-share growth of about 16% when accounting for the fact that the year includes an extra 53rd week of operations.

Operating income for the all-important experiences division, which includes theme parks and cruises, jumped 20% from a year ago to $3.02 billion, easing investors' fears about the war in Iran disrupting travel.

Entertainment operating income surged 64% to $1.68 billion. The company cited the success of Toy Story 5 and The Devil Wears Prada 2 , although it acknowledged that box-office flop Moana would hurt the segment's fourth-quarter results.

D'Amaro has pledged to pour more money into intellectual property as part of an effort to end a dismal run for Disney's stock, which has struggled for years due to cord-cutting and leadership uncertainty.

Shares popped following the company's second-quarter earnings three months ago, when D'Amaro laid out his priorities in a 3,000-word letter to shareholders.

But the gains have faded since then, with investors worrying about weaker consumer spending and the weak box-office performance of Moana and Star Wars: The Mandalorian and Grogu .

As of Tuesday's close, the stock was down 14% for the year.