Walt Disney Co. delivered stronger-than-expected fiscal third-quarter results, posting adjusted earnings of $1.61 a share versus analysts’ $1.47 estimate on revenue of $23.65 billion, up 2% from a year earlier. Operating income rose 8% to $4.6 billion, offsetting continued softness in the company’s traditional television networks, where profit fell 15%. The direct-to-consumer unit swung to a $346 million profit as Disney+ added 1.8 million subscribers to reach 127.8 million, while the combined Disney+ and Hulu base climbed to about 183 million. Management said the parks, experiences and products division remained a growth engine, with operating income increasing 13% to $2.5 billion on higher per-guest spending at U.S. resorts and cruises. Buoyed by the streaming turnaround, Disney raised its full-year adjusted earnings outlook to $5.85 a share, up from $5.75 previously and ahead of Wall Street’s $5.78 consensus. It expects to add roughly 10 million Disney+ and Hulu subscribers in the current quarter and projects direct-to-consumer operating income of about $1.3 billion for the fiscal year, 30% above its initial target. Chief Executive Officer Bob Iger highlighted two new content agreements—a preliminary deal giving ESPN a 10% NFL stake in exchange for NFL Network assets and a five-year pact making ESPN the exclusive U.S. streaming home of WWE premium events. Both will feed a $29.99-per-month standalone ESPN app that launches Aug. 21 and is slated to be bundled with Disney+ and Hulu to reduce churn. Despite the upbeat guidance, Disney shares fell roughly 3% in early trading as investors weighed ongoing declines in linear TV advertising.