*By Madison Alworth*
Disney reported second-quarter earnings Tuesday after the bell, posting better-than-expected revenue of $14.55 billion, compared with estimates of $14.11 billion, and higher earnings per share ($1.84 adjusted versus estimates of $1.70). Quarterly revenue increased by about 9 percent.
The blockbuster installment in the Marvel series, "Black Panther," played a big role in the earnings beat. The movie opened about halfway through the quarter and added hundreds of millions dollars to Disney's movie revenue and profit. It became one of the top 10 box-office successes of all time. Disney's studio business earned $2.45 billion for the quarter, driving 21 percent year-over-year growth.
In his earnings call, the chairman and CEO of Disney Bob Iger said the company's filmmakers, "delivered nine of the top 10 biggest domestic box office openings of all time — all of them released within the last six years," as quoted by CNBC.
In addition to movie box-office receipts, Disney's second-quarter earnings were aided by theme park revenues. Analysts anticipated [about $4.7 billion from parks and resorts](https://www.marketwatch.com/story/disney-earnings-the-black-panther-bump-is-just-the-beginning-2018-05-07), and Disney reported $4.9 billion, an increase of 13 percent.
For the past couple years, ESPN has seen its cable subscribers decrease. But the sports network's fortunes may get a boost after the start of its new direct-to-consumer ESPN Plus service. The over the top package was announced at the end of the second quarter, and launched in April, but it already seems promising for the company.
This was just the first step in a strategy to build an all-encompassing Disney video-on-demand service. The company is expected to introduce that service sometime in 2019, after its contract with [Netflix ends.](https://www.theverge.com/2017/8/8/16115254/disney-launching-streaming-service-ending-netflix-deal)
On the earnings call, there were sure to be questions on Disney's $52 billion bid for 21st Century Fox. The deal became even more complicated this week when it was reported that Comcast could be making another play for [Fox](https://www.wsj.com/articles/comcast-lines-up-financing-for-possible-hostile-bid-for-21st-century-fox-1525747160).
It seems that a deal is on the horizon, but it's unclear who will win out in the end. And when asked if this move will be good for consumers, Jack Kramer, co-founder and co-CEO of MarketSnacks was doubtful.
"It's tough to say that consolidation of any industry is good for consumers," he said.
For the full interview, [click here](https://cheddar.com/videos/disney-beats-on-second-quarter-earnings).
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
