NEW YORK, Aug 13 — Walt Disney Co earnings topped Wall Street forecasts for the most recent quarter as its streaming services picked up new customers and the pandemic-hit theme parks unit recorded a profit. Shares of the entertainment company rose 5 per cent in after-hours trading on Thursday to...
NEW YORK, Aug 13 — Walt Disney Co earnings topped Wall Street forecasts for the most recent quarter as its streaming services picked up new customers and the pandemic-hit theme parks unit recorded a profit.
Florida, where the flagship Walt Disney World is located, is the epicenter of the latest US outbreak, posting record cases and hospitalizations in recent days. Disney has staked its future on building streaming services to compete with Netflix Inc in the crowded market for online entertainment. Net income for division reached US$356 million, compared with a loss of nearly US$1.9 billion a year earlier when many Disney parks were closed.
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