Disney sharply outperformed Wall Street's quarterly earnings estimates with results buoyed by the strong holiday box office performance.

Walt Disney surprised analysts with a strong first-quarter performance, driven by an uptick in its direct-to-consumer segment and content sales.

Walt Disney sharply outperformed Wall Street's quarterly earnings estimates on Wednesday, with results buoyed by the strong holiday box office performance of animated sequel "Moana 2" and higher profits at the company's streaming business.