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," though the company warned of a modest decline in Disney+ streaming subscribers in the coming quarter.

Walt Disney Co. reported fiscal first-quarter results that topped analysts’ estimates, fueled by the blockbuster film Moana 2 and higher income from its streaming services.

The entertainment company topped Wall Street expectations on core metrics; meanwhile, its streaming push continues.