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Disney 1Q profit falls but beats expectations due to Disney+

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NEW YORK – The Walt Disney Co.’s net income fell sharply in its most-recent quarter, as the coronavirus pandemic still weighs heavily on many of its businesses, from theme parks to movies.

But results surpassed Wall Street's expectations thanks to subscribers flocking to Disney+ and other of the entertainment giant's streaming services.

Disney's parks and resorts have been closed or operating at significantly reduced capacity since shortly after the pandemic forced lockdowns across the U.S.

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