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| Finding Dory and Jungle Book boosts Disney revenues | Finding Dory and Jungle Book boosts Disney revenues |
| (35 minutes later) | |
| The popularity of films such as Finding Dory has helped Walt Disney post better-than-expected quarterly results. | The popularity of films such as Finding Dory has helped Walt Disney post better-than-expected quarterly results. |
| The entertainment giant reported a 9% rise in revenue to $14.2bn (£10.9bn) - slightly higher than Wall Street predictions. | The entertainment giant reported a 9% rise in revenue to $14.2bn (£10.9bn) - slightly higher than Wall Street predictions. |
| Profit for the quarter to 2 July was $120m higher at $2.6bn. | Profit for the quarter to 2 July was $120m higher at $2.6bn. |
| Disney also said it had bought a one third stake in a US Major League Baseball video streaming company, BAMTech, for $1bn. | Disney also said it had bought a one third stake in a US Major League Baseball video streaming company, BAMTech, for $1bn. |
| Movies including The Jungle Book and Marvel's Captain America: Civil War helped propel revenues at its studio divis | Movies including The Jungle Book and Marvel's Captain America: Civil War helped propel revenues at its studio divis |
| Finding Dory had the most successful launch for an animated film in US box office history when it opened in June, making $136.2m in its first weekend. | Finding Dory had the most successful launch for an animated film in US box office history when it opened in June, making $136.2m in its first weekend. |
| Disney's parks and resorts division reported a 6% rise in revenue despite increased cost from the launch of its first park in China and a slowdown in visitor numbers in France. | Disney's parks and resorts division reported a 6% rise in revenue despite increased cost from the launch of its first park in China and a slowdown in visitor numbers in France. |
| In June the company opened Shanghai Disney and is already planning an expansion to handle more visitors by 2021. | In June the company opened Shanghai Disney and is already planning an expansion to handle more visitors by 2021. |
| ESPN | |
| Revenue at Disney's cable TV networks rose 1.4% to $4.2bn in the quarter, with a modest gain for sports network ESPN. | |
| ESPN has been a weak point for Disney in past quarters. As some viewers shun expensive cable TV subscriptions in favour of streaming services, investors have worried about the prospects of a network that has traditionally been a cash-cow for the company. | |
| Disney plans to offer ESPN through a streaming service so viewers are not forced to pay for cable channels they may never watch. | |
| The decision to take a stake in BAMTech is another bid to cope with viewers' changing habits. | |
| BAMTech has nearly 7.5 million paid subscribers and wants to continue growing. | |
| Chief executive Bob Iger said the deal would give Disney the technology infrastructure it needed to be able to quickly offer ESPN via streaming. | |
| As part of the deal, BAMTech was separated out from Major League Baseball's broader media business. | |
| Disney will have the option to buy a majority stake in the coming years. |