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Walt Disney’s quarterly earnings beat market estimates; profit slips at theme parks

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April-June operating income nearly tripled at its Entertainment unit, with the combined streaming businesses of Disney+, Hulu and ESPN+ posting a profit for the first time

reported on Wednesday quarterly earnings that exceeded Wall Street expectations, buoyed by the success of animated Pixar film “Inside Out 2,” which helped overcome a profit decline at theme parks.

Operating income for the unit is likely to fall by “mid single digits” in the July-September quarter compared with the same period a year prior, Disney said. “We are confident in our ability to continue driving earnings growth through our collection of unique and powerful assets,” Iger said in a statement.

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