Disney offered a bullish earnings outlook for the coming years and its streaming business showed healthy growth in both profits and new customers, signs that the company’s shift away from its rapidly-declining TV business is gaining momentum.

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.

Disney shares rocketed higher in Thursday trading after the major studio, led by CEO Bob Iger, reported its latest quarterly results, including strong film unit results, driven by the likes of Deadpool & Wolverine and Inside Out 2.