Disney Films, Parks Lift Profit in Debut Quarter for New CEO

Walt Disney Co. posted stronger results than Wall Street expected thanks to improved profitability at its streaming business, new Avatar and Zootopia movies, and guests spending more at the company’s resorts and on cruises.

Earnings per share, excluding some items, rose to $1.57 in the second fiscal quarter, higher than the average analyst estimate of $1.51, according to data compiled by Bloomberg. Revenue was $24.9 billion, up 7% from a year earlier and also ahead of Wall Street’s estimates.