Disney Has ‘Turned the Corner’ After a Strong Quarter, Iger Says

Robert A. Iger has insisted for months that his turnaround plan for Disney was working. But distinct proof has been elusive, and investors, as evidenced by the company’s underperforming stock price and multiple proxy campaigns by activists for board seats, have been hesitant to buy in.

On Wednesday, Mr. Iger delivered financial proof — along with a flurry of announcements about future entertainment offerings, including a “Moana” sequel, the arrival of Taylor Swift’s concert movie on Disney+, a partnership with Epic Games to create a Disney universe connected to Fortnite, and the 2025 rollout of a flagship ESPN streaming service that includes the sports giant’s primary programming.

“Just one year ago, we outlined an ambitious plan to return the Walt Disney Company to a period of sustained growth and shareholder value creation,” Mr. Iger said in a statement. “Our strong performance this past quarter demonstrates we have turned the corner.”

Mr. Iger said that Disney’s multiyear partnership with Epic Games was the company’s “biggest entry ever into the world of games and offers significant opportunities for growth and expansion.” Disney acquired a $1.5 billion stake in Epic as part of the deal.

Disney shares climbed 7 percent in after-hours trading to about $106.

Disney’s per-share earnings for the most recent quarter totaled $1.22, or 23 percent more than Wall Street had expected. Breaking from a long practice of not providing guidance about profit, Disney said per-share earnings for its full fiscal year would increase by at least 20 percent compared with 2023, in part because of record highs in revenue, profit and operating margins at its theme parks.

Mr. Iger, Disney’s chief executive, announced a $3 billion stock buyback plan, the company’s first since 2018, and a cash dividend of 45 cents a share, a 50 percent increase compared with the previous dividend, which was paid in January.