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"We're pleased with our results in the quarter, including a double-digit increase in earnings per share, and excited about the opportunities ahead for continued growth", Disney CEO and chairman Bob Iger said in a statement.

United States regulators approved the deal in May. Disney parks and resorts reported yet another strong quarter, with revenue increasing 6% to $5.2 billion.

A lot of details were revealed, though, and here is what we now know about Disney's new streaming service.

Considering that CBS All Access's Star Trek: Discovery was one of the most expensive shows in TV history with a budget of between $8 million and $8.5 million per episode then it becomes apparent just how much Disney is investing in both Favreau's show and its streaming service at large.

Iger also touched upon competing with Netflix, but said they won't compete with Netflix in terms of volume, but will focus on quality with films and shows from Marvel, Star Wars, Pixar and more.

Content for the Disney service will include the first live-action Star Wars TV series, reportedly costing US$100 million for 10 episodes, and new episodes of the Star Wars: Clone Wars animated series. Iger made it clear that this service will not be huge right at the start, but it would continue to grow over the months and years following its launch. But, reports Variety, Iger confirmed earlier reports that Disney is targeting a launch sometime in 2019, and is aiming to undercut Netflix in cost.

On an adjusted basis, Disney earned $1.87 per share, below estimates of $1.95 per share.

Elsewhere, Disney's studio and entertainment division saw a 20 percent boost in sales, to $2.88 billion, due mainly to the success of "Avengers: Infinity War" and "Black Panther".

Revenue rose 7 percent to $15.23 billion - also missing forecasts.

Disney shares have risen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent.

In the Mouse House's media networks division, which includes ESPN and ABC, operations eked out a 3 percent gain in total revenue but higher programming fees, including for the National Basketball Association, resulted in a 6 percent decline in operating profit. In the final minutes of trading on Tuesday, shares hit $116.56 (roughly Rs. 8,000), an increase of nearly 10 percent from a year ago.


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