Disney's Earnings Exceed Expectations!

The Walt Disney Company announced on Wednesday quarterly results that exceeded Wall Street expectations, supported by the success of the second installment of the animated film "Inside Out," which helped offset declining profits in theme parks. The company's stock rose nearly three percent in pre-opening trading. The operating income for the entertainment sector from April to June nearly tripled, as streaming services, including Disney+, Hulu, and ESPN+, posted profits for the first time. However, the operating income for the activities sector, which includes theme parks and consumer products and accounts for just over half of the profits, declined by three percent. Data from the London Stock Exchange Group showed that the adjusted earnings per share reached $1.39 for Disney's third fiscal quarter, surpassing analysts' estimates of $1.19. Revenues increased by four percent to $23.2 billion, exceeding expectations of $23.1 billion.