Shares of entertainment giant Walt Disney Co. (DIS) spiked this week despite missing revenue forecasts in the most recent quarter. Analysts remain bullish on Disney’s plans for an internet video streaming service to compete against Netflix Inc. (NFLX), as the company continues to roll out cash cow films such as its latest Marvel title, "Thor: Ragnarok," released last week, and now a new “Star Wars” trilogy. (See also: Buy Disney, Ignore ESPN Woes: Morgan Stanley.)

On Thursday, The Mouse posted fiscal fourth-quarter earnings of $1.07 per share on $12.78 billion in revenues, falling short of the Street’s forecasts for $1.12 earnings per share (EPS) on $13.15 billion in revenue. While shares initially sank on earnings and sales both down 3% over last year, breaking news from Disney Chief Executive Officer Bob Iger during the conference call helped reverse the decline. Iger indicated that the media company has struck a deal with Rian Johnson, the director of the forthcoming “Star Wars: The Last Jedi,” for a brand new science fiction trilogy.

Introducing: ESPN Plus

Further, the CEO said that Disney’s streaming platform, set to launch in 2019, will be priced substantially below” that of Netflix. Building out a direct-to-consumer relationship is Disney’s “highest priority this year,” said the CEO. The company also gave a name to its new ESPN direct-to-consumer service, ESPN Plus.

“While the quarter largely missed our expectations, looking ahead, we remain upbeat on DIS shares as we head into a strong film slate, growth from recent and upcoming carriage renewals, and continued momentum at the [theme] Parks,” wrote Piper Jaffray analyst Stan Meyers in a note to clients on Friday. Meyers, who rates DIS at overweight, said that the company “remains best positioned in the current fragmented media landscape.” (See also: ‘Ragnarok’ Is Disney’s 17th Straight Marvel Hit.)

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