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The Walt Disney Co. announced stronger holiday earnings than expected Tuesday afternoon, sending shares higher in late trading. The entertainment giant reported fiscal first-quarter profit of $2.79 billion, or $1.86 a share, down from $2.91 a share a year ago but handily beating analysts' average expectations of $1.54 a share. Disney reported revenue of $15.3 billion, down slightly from $15.35 billion a year ago but ahead of expectations of $15.16 billion, according to FactSet. Disney shares gained about 2% in late trading after the results were released, after closing with a 0.7% gain at $112.61. The stock has gained 7.8% in the past year, while the S&P 500 index has increased 2.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.