Walt Disney Results Boosted by Recent Box-office Hits , Plan To Invest In Streaming Service
The Walt Disney Company late Tuesday posted better-than-expected fiscal third quarter earnings of $1.62 per share on 9% revenue growth to $14.28 billion. The entertainment company’s quarterly profit and revenues were much better than the consensus estimates for revenue of $14.15 billion and earnings of $1.61 per share, driven largely by its movie studio segment and the success of Finding Dory, Captain America: Civil War, The Jungle Book, etc.
The company also announced that it is acquiring a 33% stake in Major League Baseball’s BAMTech streaming media company. Disney will pay $1 billion for BAMTech to become a key partner in the delivery and support of streaming video and other digital products from Disney.
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