Disney tops earnings estimates ahead of streaming launch

Disney CEO Robert Iger poses on the red carpet upon arriving for the European premiere of the film 'The Lion King,' which helped boost revenues for the entertainment giant in the past quarter. [AFP]

Walt Disney Co. on Thursday reported better-than-expected quarterly results, fueled by the release of blockbuster films "Aladdin" and "The Lion King" as it prepared for its new streaming television service.

Disney profit in the recently ended quarter was $1.05 billion, down from $2.3 billion a year ago, on revenue that grew 34 percent to $19.1 billion.