Nov 8, 2018
Disney results get box office boost
Walt Disney saw higher profits and revenue in the most recent quarter, boosted by blockbusters Incredibles 2 and Ant-Man and the Wasp. Revenues in the media company's studio division jumped 50% in the three months to 29 September to $2.15bn. The gain lifted the firm's total revenues to $14.3bn, up 12% year-on-year, while profits rose 33%. The box office success provided a boost to the company as it shifts its focus to online streaming. The firm has already launched a sports-focused online streaming site, and is planning a family-oriented one dubbed Disney Plus, to launch in 2019. The move comes amid declines in television advertising and increased competition from digital giants such as Netflix and Amazon.
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