As Disney Enters Streaming Era, Plain-Old TV Helps Ease Shift
- Theme parks also bolstered results at the entertainment giant
- Studio results tumble from a strong year-earlier period
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Walt Disney Co. is embarking on a mission to become a streaming-TV company, challenging Netflix Inc. head-on. But for now, it’s traditional TV that’s holding up better than expected.
Soaring sales and profit at the ABC network and local TV stations helped Disney beat analysts’ forecasts for the first quarter -- and overcome another tough stretch for the ESPN sports network. The entertainment giant credited higher fees from pay-TV services, rising ad revenue and more sales of programs to other companies.