Disney DIS posted second quarter earnings of $1.62 per share on revenue of $14.28 billion. Analysts were looking for $1.61 per share on sales of $14.15 billion. Last year, Disney earned $1.45 a share on sales of $13.1 billion in its second quarter. Disney also announced that it is acquiring a 33% stake in BAMTech, a technology services and video streaming company previously formed by Major League Baseball (MLB). Under the terms of the transaction, Disney will pay $1 billion in two installments, now and in January 2017, and has the option to acquire majority ownership in the coming years.
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