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Disney returns to profit as streaming service and Inside Out 2 boost income

Operating income for entertainment segment triples to $1.2bn in profitable third quarter

The company made $254m in operating income from content sales and licensing – helped by the strong performance of Inside Out 2 at movie theaters, which is now the highest-grossing animated film of all time. The combined streaming businesses, which includes Disney+, Hulu and ESPN+, achieved profitability for the first time thanks to a strong three months for ESPN+ and a better-than-expected quarterly performance from the direct-to-consumer unit. Disney said that the decline in operating revenue for domestic parks and experiences was because of increased costs driven by inflation, technology spending and new guest offerings.

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