Improved earnings: Walt Disney Co logo appears on a screen above the floor of the New York Stock Exchange. Profit at Disney’s largest business, media networks, grew 7 as the Burbank, California-based company continued to battle viewer losses. — AP
LOS ANGELES: 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.
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