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(Reuters) - Walt Disney Co swung to a surprise quarterly profit on Thursday, as “The Mandalorian” and “Soul” lifted its fast-growing streaming business, outweighing pandemic worries about its hobbled theme park operations.
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Investors overlooked a 53% decline in park revenue in the quarter and welcomed Disney+ streaming reaching 94.9 million subscribers. Shares rose 3.1% to $194 after they closed at an all-time high in regular trade.
The “Star Wars”-inspired “Mandalorian” series and Pixar’s animated “Soul” movie helped position the year-old Disney+ as a credible threat to the dominance of Netflix Inc in the streaming video wars.
Including Hulu and ESPN+, Disney’s paid streaming membership topped 146 million.
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