(Reuters) – Walt Disney Co missed estimates for quarterly revenue on Wednesday as it had to pay $1 billion for early termination of rights for films and TV shows, although its streaming and theme park businesses posted strong growth.
The company’s revenue rose 23% to $19.25 billion in the second quarter ended April 2, below analysts’ expectations of $20.03 billion, according to IBES data from Refinitiv.
(Reporting by Eva Mathews in Bengaluru and Lisa Richwine in Los Angeles; Editing by Anil D’Silva)
