Walt Disney beats quarterly forecasts, announces BAMTech acquisition

Walt Disney clocked in with double-digit growth in earnings per share for the latest three-month period thanks to a strong showing for its Studio Entertainment arm.

Total revenues grew by 9% to $14.277bn over the three months ending on 2 July when compared with a year ago, the company said in a statement released after the close of trading on 9 August.

That drove a 5% rise in net profits to $2.6bn, while free cash flow jumped 51% against the year earlier quarter to rech $2.489bn.

Diluted earnings per shares improved 10% to $1.59 for adjusted earnings of $1.62.

Analysts were anticipating EPS of $1.61 on $14.15bn in sales.

Sales at its Studio Entertainment division rocketed 40% to $2.847bn, driving a 61% gain in operating income to $766m.

Its Parks & Resorts unit was the next best performer, with sales rising 6% to $4.379bn.

In a separate statement the company announced it would acquire BAMTech for $1bn.

As of 16:19 BST shares in Walt Disney were rising 0.85% to $97.84.