Disney Adds 1.4 Million Subscribers

Disney posted solid profits and revenue in the second quarter as its domestic theme parks thrived and the company added well over a million subscribers to its streaming service.

- MICHELLE CHAPMANAP

Disney posted solid profits and revenue in the second quarter as its domestic theme parks thrived and the company added well over a million subscribers to its streaming service. The company also boosted profit expectations for the year. In the three months ended March, Disney earned $3.28 billion, or $1.81 per share.

The Burbank, California, company lost $20 million, or a penny per share, a year earlier. Removing one-time charges or benefits, earnings were $1.45 per share, easily topping the $1.18 that Wall Street was expecting, according to a survey by Zacks Investment Research. Revenue rose 7% to $23.62 billion, also topping projections.

Revenue for Disney Entertainment, its movie studios and streaming, climbed 9%, while revenue for the Experiences division, its parks, increased 6%.