Walt Disney’s second-quarter results outperform

Shares of Walt Disney Co. surged more than 3% after the US entertainment giant reported its second-quarter results, with profits exceeding Wall Street estimates by $0.01, as streaming service subscribers rose and theme park revenue increased.

The Burbank, California-based group reported second-quarter profit of $470 million, compared to last year’s profit of $901 million.

Adjusted earnings for the quarter were $1.08 per share, up from $0.79 per share a year ago.

Analysts had estimated combined revenue of $18.91 billion.

By Editor