Disney results boost investor confidence in CEO Iger

STORY: Walt Disney exceeded Wall Street's earnings expectations on Wednesday, thanks to eager crowds at its Shanghai and Hong Kong theme parks.The company posted third-quarter revenue of just over $21 billion.Disney's newly named Experiences group, which includes its theme parks, resorts, cruise lines and consumer products, pulled operating income up by nearly a third from a year ago.Adding to the gains, it said Disney+ brought in nearly 7 million new subscribers in the three months up to September 30th.It also slashed quarterly losses across streaming, which includes Hulu and ESPN+.All that offset a drop in advertising revenue at television network ABC and Disney-owned TV stations, amid declining viewership.Shares in the company rose 4% in after-hours trade, signalling investor confidence in CEO Bob Iger's aggressive cost-cutting.In a statement, Iger said the results reflected "significant progress" over the past year, saying – QUOTE: "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."Disney says its cost cuts are now on track to hit $7.5 billion – that includes thousands of jobs axed this year.Interim Chief Financial Officer Kevin Lansberry also said the company plans to ask its board to bring back a dividend payment to shareholders by the end of 2023.