Disney Q4 adjusted profit tops estimates on strong results from entertainment unit, streaming ...Middle East

AP Business Writer Disney’s fourth-quarter adjusted profit beat Wall Street’s expectations, bolstered by strong results from company’s entertainment business and its streaming service. Disney earned $460 million, or 25 cents per share, for the period ended Sept. 28. A year earlier the Burbank, California-based company earned $264 million, or 14 cents per share. Removing certain items, earnings were $1.14 per share. This topped the $1.09 per share that analysts surveyed by Zacks Investment Research were looking for. Shares jumped nearly 7% before the market open on Thursday. Revenue climbed 6% to $22.57 billion, but fell a bit short of Wall Street’s estimate of $22.59 billion.

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