Disney returns to profits in third quarter as streaming business starts making money for first time

The Walt Disney Co. returned to a profitable third quarter as its combined streaming business started making money for the first time and the movie Inside Out 2 did well in theaters.

Stripping out one-time gains, earnings were $1.39 per share, easily topping the $1.20 analysts polled by Zacks Investment Research expected. Operating income for the entertainment segment nearly tripled to $1.2 billion thanks to better performances from its direct-to-consumer and content sales/licensing and Other segments.

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