Walt Disney Co results beat Wall Street estimates thanks to summer crowds that swarmed into its theme parks and filled theaters showing Marvelmovie “Ant-Man and the Wasp.”
The family entertainment company also revealed plans for a new “Star Wars” video series for its forthcoming streaming service, that it has named Disney+ and plans to launch late next year, aiming to make up for the continuing loss of subscribers from ESPN and other cable networks.
Disney is trying to transform itself into a broad-based digital entertainment company as audiences move to Netflix Inc, Alphabet Inc’s YouTube and other digital options.
It is on the verge of gaining new film and television properties in a $71.3 billion purchase of assets from Twenty-First Century Fox Inc.
Overall revenue in the quarter rose 12% to $14.3 billion, above analysts’ average estimate of $13.73 billion.
The company also is working on a live-action Marvel series for the new service about Thor’s devious brother Loki, starring Tom Hiddleston.
Iger said Disney will give a first look at the Disney+ app and its programming at an investor conference in April.
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