Disney Beats Street in Q2, Buys Stake in BAMTech
Disney beat the Street, posting second quarter earnings of $1.62 a share on revenue of $14.28 billion.
Disney (DIS) - Get Report posted second quarter earnings of $1.62 a share on revenue of $14.28 billion. Analysts were looking for $1.61 a share on sales of $14.15 billion. Last year, Disney earned $1.45 a share on sales of $13.1 billion in its second quarter. Disney also announced that it is acquiring a 33 percent stake in BAMTech, a technology services and video streaming company previously formed by Major League Baseball (MLB). Under the terms of the transaction, Disney will pay $1 billion in two installments, now and in January 2017, and has the option to acquire majority ownership in the coming years.
