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Disney shares get earnings boost from parks, films

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Disney shares get earnings boost from parks, films

Disney shares get earnings boost from parks, films

Walt Disney's theme parks and a remake of "The Lion King" boosted quarterly earnings past Wall Street targets on Thursday as costs came in lower than expected for its big plunge into streaming entertainment.

Yahaira Jacquez reports.

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Disney shares get earnings boost from parks, films

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"The Lion King" boosted Disney's quarterly earnings on Thursday, beating Wall Street expectations.

The company's earnings arrived just days before its streaming service Disney + is set to launch, as it attempts to become a powerhouse in a market dominated by Netflix.

But it hasn't come cheap, with investments to build streaming media services increasing from a year earlier.

Meanwhile, Disney's movie business benefited from box office hits like "Toy Story 4," and the remakes of "Aladdin" and "The Lion King." While its parks were also a source of strength.

All that helping to drive up Disney's revenue, which rose 34% to about $19 billion.

That's up from about $14 billion in the same period last year.

Disney shares got a boost from the solid earnings report - up in after-hours trading.



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