Disney on Thursday reported fourth-quarter adjusted profits that surpassed Wall Street's expectations. Driven by strong performances from its entertainment division and streaming services, these results highlight the company's successful strategy in capitalizing on high-demand content and digital offerings.

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.

Shares of The Walt Disney Company (DIS) rose in premarket trading Thursday as revenue and adjusted profit topped analysts' estimates. The entertainment giant reported $22.57 billion in revenue, up from $21.