Disney's profit is boosted by fans flocking to parks and movies

(Reuters) – The Walt Disney Co (1945) DIS.N results surpbaded Wall Street's estimates on Thursday because of the summer crowds that have invaded its theme parks and filled with theaters broadcasting the Marvel film "Ant-Man and the Wasp."

The company Family Entertainment also unveiled plans for a new series of videos titled "Star Wars." next streaming service, which it has named Disney + and scheduled to launch later this year next, aims to compensate for the continued loss of ESPN and other cable networks.

Disney attempts to transform into a large digital entertainment company as the public moves to Netflix Inc. ( NFLX .O ), Alphabet Inc ( GOO GL.O ) and other digital options. She is about to acquire new film and television properties through a $ 71.3 billion badet purchase from Twenty-First Century Fox Inc. ( FOXA.O ).

Total revenue for the quarter was $ 14.3 billion, up 12% from the average badyst estimate of $ 13.73 billion. Net profit rose 33% to $ 2.3 billion and adjusted earnings per share of $ 1.48 for a consensus badyst beaten by $ 1.34, according to Refinitiv's IBES data.

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Disney shares, which grew nearly 8% this year, rose 1.7% to $ 118 after the trading session.

President and CEO Bob Iger announced here that Disney's Lucasfilm was developing a second series of Star Wars news for Disney +, a sequel to "Rogue One" starring Diego Luna.

The company is also preparing a series of Marvel films for the new service devoted to Thor's evil brother, Loki, with Tom Hiddleston.

Iger said that Disney would give a first glimpse of the Disney + application and its programming at an investor conference in April.

The CEO was also optimistic about the prospects for Hulu, a pay-per-view and live television service. Disney will own 60% of the streaming service after Fox's purchase and Iger told CNBC that Disney would be interested in buying the remaining shares in Comcast Corp ( CMCSA.O ) and AT & T Inc ( TN ) were they willing to sell.

Iger said that he saw "an opportunity to increase investment in Hulu, especially on the programming side", and he felt that it was possible to increase the price. For the quarter just ended, the Media Networks unit, Disney's largest, has increased $ 1.5 billion in operating profit by 4% year-over-year. , the broadcaster ABC has recorded an increase in sales and royalties of distributors' programs.

The ESPN cable network continued to get rid of its subscribers, the company said, as viewing shifts to digital platforms.

To counter this ongoing change, Disney launched a streaming service this year called ESPN + featuring live sports programming, documentaries and other non-television shows. By comparison, Disney + will include movies and TV shows aimed at a family audience, while Hulu will broadcast more mature programming for adults.

Disney + could increase the stock of the company if the streaming service could challenge Netflix and Amazon.com Inc. ( AMZN.O ), said Haris Anwar, senior badyst at Investing.com , the global financial platform.

"Disney's expectations are excellent for the company as it prepares to compete with its rivals in the streaming video streaming industry, which takes away money and consumers," said Anwar. .

During the last quarter, the Theme Parks Division generated operating income of $ 829 million, an increase of 11% over the previous year as a result of attendance and spending by Disney sites in the United States during the summer period.

Profits made by the Disney movie studio have more than doubled to $ 596 million with titles such as "Ant-Man and the Wasp" and "Incredibles 2".