Disney profit rises on strong film slate

NEW YORK: Walt Disney Co.’s earnings for the latest quarter sailed passed expectations, boosted by a strong slate of movies, including as the company moves toward closing its $71.3-billion deal to buy 21st Century Fox’s entertainment assets.

Disney and other media companies are facing a shifting landscape as more television watchers switch to streaming rather than traditional cable bundles.

tainment - portfolio, which runs

results. Studio entertainment revenue, which includes theater

by 50 percent to $2.15 billion on and the latest movie.

Net income for the quarter ending on September 29 rose 33 percent to $ 2.32 billion, or $1.55 per share, from $1.75 billion, or $1.14 per share last year. Excluding one- time items, net income totaled $1.48 per share. The average estimate of seven

- ment Research was for earnings of $1.31 per share.

company’s revenue rose by 12 percent to $ 14.31 billion from $12.78 billion last year. Four ana-

$13.81 billion.

A reduced tax rate also boosted results by $1.2 billion.

Disney is building its streaming service offerings. It launched In this Aug. 8, 2017 file photo, the Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange.

$5-a-month ESPN Plus streaming service with sports in April. And a Disney-branded streaming service is expected to launch later next year.

In a call with analysts on Thursday ( Friday in Manila), Chief Executive Officer Bob Iger gave a few new details about the new streaming service, which will be called Disney Plus. No pricing has been disclosed.

investing in Hulu and use it as a home for more general programming. Family-friendly shows and movies will head to Disney Plus.

The streaming service will feature five categories of material: Disney, Pixar, Marvel, Star Wars and National Geographic. Original programming will include

action series, created by Jon Favreau; a rebooted series and a new series focused on documentary

Disney.

Disney Plus will also produce

streaming. Initial titles a prequel to the starring Diego starring Anna Luna; Claus; a live-action and a movie about the Tom Hiddleston. With the pending Fox

Hulu, which is jointly owned by Disney, Fox, Comcast and AT&T.

The Fox acquisition is expected to close at the beginning of next year. With it, Disney gets Fox TV

and Deadpool, along with programs shown on such Fox chan-

Geographic. also include

and ,

will include

deal, -

Fox’s productions