Disney Posts Better-Than-Expected Quarterly Results, Nears Streaming Profitability Goal

Disney topped Wall Street forecasts for its fiscal second quarter and inched closer to the long-awaited milestone of streaming profitability. Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02. The entertainment direct-to-consumer operation finished the quarter in the ...