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Walt Disney surpasses earnings estimates with help from Moana 2
Company saw ‘strong start to the fiscal year’ according to its CEO, partly due to higher profits from streaming business
Walt Disney sharply outperformed Wall Street’s quarterly earnings estimates on Wednesday, with results buoyed by the strong holiday box office performance of animated sequel Moana 2 and higher profits at the company’s streaming business. “Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth,” said Disney CEO Bob Iger in a statement. Operating income at Disney’s Entertainment unit, which includes film, television and streaming, increased to $1.7bn in the quarter, nearly double the results from a year earlier, thanks in part to the strong performance of Moana 2.
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