Shares of Walt Disney co (NYSE: DIS) are up over 5% after the company delivered better-than-expected second-quarter results.

Disney made a profit of $0.80 per share to easily top the $0.55 per share expected from surveyed market analysts. Revenue for the quarter came in at $17.02 billion, again higher than the $16.76 billion consensus.

Disney+ now has 116 million subscribers, which is higher than the 114.5 million consensus. For Q2, Disney reported 103.6 million subs. Average monthly revenue per subscriber fell 10% to $4.16. Overall, the company said it now serves 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of its third quarter.

“We ended the third quarter in a strong position, and are pleased with the Company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic. We continue to introduce exciting new experiences at our parks and resorts worldwide, along with new guest-centric services, and our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.

Chapek told CNBC that he is “very confident” Disney+ will have between 230 million and 260 million subscribers by 2024.

“We’re very confident in our sub trajectory. Our confidence only continues to grow as that content permeates our services,” he said while adding that parks are also witnessing “strong demand.”

Revenue from parks exploded over 300% to $4.3 billion to yield an operating income of $356 million, compared to a $1.87 billion loss a year ago.

RBC analyst Kutgun Maral raised the price target on the stock to $210.00 per share from $202.00 per share after the company “yet again bucked industry trends.”

“We see clear visibility for continued momentum for at least the next two quarters given a healthy pipeline of market launches and expansions, the upcoming global company-wide cross promotional campaign dubbed Disney+ Day (November 12th), and a robust content slate which should continue to ramp into next year,” the analyst said in a note sent to clients.

“At the Parks, underlying demand trends remain healthy for now despite the Delta variant, domestic per cap spend has been exceptionally strong, and new yield management systems should lead to substantial commercial opportunities – each supportive of driving meaningful operating leverage on top of an improved post-pandemic cost structure. In particular, when a traditionally conservative management team refers to its new Disney Genie service — which it expects will revolutionize the guest experience at the Parks — as being similar to the transformational MyMagic+ initiative but “on steroids,” it’s hard not to have confidence in a step-function improvement in revenue/margins and therefore an upward re-rating,” Maral added.

Needham analyst Laura Martin reiterated a “Hold” rating on the stock but praised the company for delivering strong FQ3 results.

“What we liked most about DIS's June quarter was its DTC metrics, including: a) DTC Revs rose 57% y/y to $4.3B and DTC EBITA improved by 53% y/y to a loss of $293mm; b) At 6/30/21, DIS had 174mm total DTC subscribers, made up of Disney+ at 116mm subs (up from 104mm at 3/31/21), Hulu at 42.8mm subs (including 3.7mm vMPVD subs), and ESPN+ at 14.9mm subs (up 1mm q/q), and we estimate that about 44mm Disney+ subs were at Hotstar India, up 9mm q/q from 35mm at 3/31/21; c) Disney+ ARPU was $4.16 in 3Q21 (excluding Hotstar, it was $6.12, up $0.50 q/q); and d) Disney+ added 42mm subs in the first 9 mos of FY21, and has guidance of 230mm-260mm DTC subs by 2024,” Martin said.

BMO analyst Daniel Salmon noted a “relief rally” in the DIS stock following FQ3 results. He also raised the price target to $195.00 per share from $190.00.