Walt Disney's theme parks and a remake of 'The Lion King' boosted quarterly earnings past Wall Street targets as costs came in lower than expected for its big plunge into streaming entertainment. More here:
) popular theme parks and a remake of “The Lion King” pushed earnings past Wall Street targets on Thursday, and the company spent less than it had projected on its big plunge into streaming entertainment.Disney is trying to transition from a cable TV leader to a powerhouse in the crowded streaming video market dominated by Netflix Inc . The family-friendly digital entertainment service, Disney+, is set to debut on Tuesday.
Excluding certain items, Disney earned $1.07 per share for the quarter that ended in September, above average analyst estimates of 95 cents per share, according to IBES data from Refinitiv. Disney+ will initially stream in the United States, Canada and the Netherlands. On Nov. 19, it will debut in Australia and New Zealand, followed by several countries in western Europe on March 31, Chief Executive Bob Iger said.
“We’re making a huge statement about the future of media and entertainment and our continued ability to thrive in this new era,” Iger told analysts on a conference call. The Disney+ app will be accessible via a wide range of smart TVs, mobile phones and streaming devices, including Amazon.com Inc’s (
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