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Disney Tops Quarterly Profit and Revenue Expectations

Published 05/08/2019, 04:08 PM
Updated 05/08/2019, 04:39 PM
© Reuters.

© Reuters.

Investing.com - Walt Disney (NYSE:DIS) reported fiscal second-quarter earnings and revenue that beat analysts' expectations after the bell Wednesday. Results were helped by strength in its theme park business and a boost in direct-to-consumer revenue.

The company reported earnings per share of $1.61 on revenue of $14.92 billion. Analysts polled by Investing.com forecast EPS of $1.57 on revenue of $14.48 billion.

Theme park revenue rose 5% to $6.2 billion. Operating income in that segment increased 15% to $1.5 billion.

Direct-to-consumer and international revenue - a segment that includes streaming services like ESPN+ and Hulu - rose 15% from the year-ago period to $955 million, although it posted a wider loss.

Walt Disney shares initially gained more than 1% in after-hours trade following the report.

The stock has jumped sharply since the company released details in April of its streaming service Disney+, which launches later this year. Shares are up more than 17% in the last month.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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