Disney posts higher second-quarter earnings and revenue thanks to strong theme parks business

By MICHELLE CHAPMAN and BARBARA ORTUTAY
AP Business Writers

Ongoing strength at its theme parks and an improving streaming business propelled The Walt Disney Co. to higher profits and revenue in its fiscal second quarter. For the three months ended April 1, Disney earned $1.27 billion or 69 cents per share. That compares with $470 million, or 26 cents per share, a year ago. After adjusting for one-time items, Disney earned 93 cents per share, matching industry analysts’ expectations. The entertainment giant has been working on trimming about 7,000 jobs as part of a targeted $5.5 billion cost savings across the company.