Walt Disney Company (NYSE: DIS ) investors got some major news about the company’s new ESPN streaming service on Tuesday afternoon after the company reported mixed first-quarter results.

Disney reported adjusted earnings per share of $1.89 on revenue of $15.35 billion. EPS beat consensus analyst estimates of $1.61, but revenue missed consensus estimates of $15.45 billion.

However, Disney stock jumped more than 2 percent in after-hours trading after CEO Bob Iger told CNBC that the company is expected to launch its updated ESPN app, which will include live sports streaming, sometime in the spring. Iger says the new service will cost $4.99 per month.

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Iger isn't commenting on rumors of a potential competing bid for the Twenty-First Century Fox Inc ( FOXA ) assets Disney recently acquired, and said as far as he knows the Fox acquisition is still on track. Earlier this week, CNBC reported that a source familiar with the matter has said Comcast Corp. ( CMCSA ) is considering a higher bid than Disney’s $52 billion offer for Fox’s assets.

Disney’s parks and resorts business was its top-performing segment in the quarter, reporting revenue of $5.15 billion compared to consensus estimates of $4.86 billion. Media and networks ($6.24 billion), studios ($2.50 billion) and consumer and interactive ($1.45 billion) all reported revenue below expectations.

For Disney investors concerned about cord-cutting and subscriber loss, Iger says the company is seeing positive trends among younger TV customers.

“There are signs of young people coming into multichannel television – people that were once thought to be ‘cord-nevers’ – are starting to adopt the packages that are less expensive, Hulu for example. …That’s a very good sign,” Iger says. Upon the completion of the Fox deal, Disney would hold a 60 percent ownership stake in Hulu.

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CFRA analyst Tuna Amobi says Disney is firing on all cylinders ahead of the highly-anticipated launch of its own streaming service to compete with Netflix, Inc. ( NFLX ) in 2019.

“We see continued multi-platform benefits on a robust pipeline of homegrown and acquired franchises, with continued financial flexibility on further de-leveraging initiatives,” Amobi says.

CFRA has a “strong buy” rating and $130 price target for Disney.

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