*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).
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
