Disney reported better-than-expected earnings in the latest quarter, turning a profit from its streaming business for the first time, but its theme parks are under pressure.
The mixed picture sent the company's shares down 2.1% in morning trade.
The company posted revenue of $23.2 billion, beating estimates of $23.1 billion, according to analysts polled by FactSet. The total profit reached 2.6 billion dollars.
"This was a strong quarter for Disney, driven by excellent results in our Entertainment segment," Disney CEO Bob Iger said, as quoted by AFP.
He added that this happened "as we achieved profitability for the first time in our combined streaming businesses, three months ahead of schedule".
The streaming division, which includes Disney+, Hulu and ESPN+, reported an operating profit of $47 million.
Disney said it was still "on track to improve the profitability of the combined streaming businesses" in the fourth quarter. | BGNES
