The company’s theme parks and TV networks led the way with growth in the first quarter while the film unit’s revenue took a 27% hit, falling to $1.8 billion.
Instead, the company released “Mary Poppins Returns,” which made more than $325 million globally. “Star Wars: The Last Jedi” made $1.3 billion worldwide the year prior.
In all, net income fell by 37% compared to the same quarter a year ago.
Disney’s stock rose 2% initially in after hours trading on Tuesday before coming back down.
2019 could prove to be one of Disney’s biggest years.
The company has a powerhouse lineup of films that includes potential blockbusters such as April’s “Avengers: Endgame” and the next chapter in the “Star Wars” saga, “Star Wars: Episode IX.” “Star Wars: Galaxy’s Edge,” the largest expansion ever at its theme parks, will open later this year.
