The House of Mouse, however, missed Wall Street estimates with a revenue increase of 4% to US$15.4 billion.
Net income soared 78% to $4.4 billion - largely as a result of the one-time benefit from the new federal tax laws.
Chief Executive Bob Iger said: "We're excited about what lies ahead, with a robust film slate, the launch of our ESPN direct-to-consumer business, new investments in our theme parks, and our pending acquisition of Twenty-First Century Fox". In November, we learnt that we could expect to see the Disney service arrive toward the end of 2019, while the ESPN one is set to debut this spring.
Plus will give subscribers access to thousands of more games and more leagues, including Major League Baseball, the National Hockey League, Major League Soccer, college sports, grand slam tennis, rugby, cricket and boxing. "If anything points to the future that ESPN looks like, it will be this app and the experience it provides", he said.
Democrat cites 'pattern' of USA administration refusals to testify in Russian Federation probe
The panel wants him to appear again to follow up on a January 16 appearance that failed to satisfy some of its members. This is the third time the committee has had to delay Bannon's testimony after his initial appearance last month .
On the studio side, revenue dropped by 1% and operating income decreased by 2% due to slower home video sales of Cars 3, compared to the previous year's Finding Dory. The segment's theatrical business had a solid quarter due to the strong performances of Star Wars: The Last Jedi, Thor: Ragnarok, and Coco, and these three films collectively generated over $4.4 billion in the global box office. The service is the first direct-to-consumer offering from ESPN and was originally teased past year... Prior to Disney's Q1 earnings report, the company announced that Game of Thrones execs David Benioff and D.B. Weiss have been tapped to write and produce a new series of Star Wars films.
With a single app, users will be able to bypass their television provider to view some 10,000 sport events a year whose rights were purchased by Disney, ESPN's parent company.
Both streaming direct-to-consumer products will be powered by BAMTech.
When asked whether Disney would spend as much as its main rival, Netflix, on its OTT products (Netflix is spending $7-$8 billion on content this year), Iger said that because of the strength of Disney's brands, it did not need to focus as much on volume.