If you’re thinking of entertainment stocks in your online stock trading, you can’t miss Walt Disney (NYSE: DIS), a company that’s been under the spotlight in a bit of a negative light thanks to declining subscribers for ESPN, the television channel and programming company acquired by Disney.

But things are positive for Disney. The company has posted a 9% year-over-year growth in revenue, revealed as it announced its fiscal 2016 Q3 results. There was also a 12% rise in adjusted earnings per share. Analysts attribute the results to the three hit movies released by the company’s studio entertainment segment as well as the success of its parks and recreation segment domestically.

In spite of the gradual decline of ESPN subscribers in the past year, the company was able to deliver pretty good quarterly results though the ESPN decline did result in the market reacting with poor stock prices. But Disney has been experiencing strong growth in its other segments, indicating that its media business may no longer be the major contributor to the company’s results. Here’s a breakdown of the various segments:

Studio Entertainment:

This segment enjoyed a massive year-over-year revenue growth of 39.6%, from $2.04 billion in 2015 fiscal Q3 to $2.85 billion in 2016 Q3. The operating income rose from $472 million in Q3 2015 to $766 million in Q3 2016. The growth is no wonder, considering that Disney released The Jungle Book, Finding Dory and Captain America: Civil War this quarter, all of which were heartily received by the audience and turned out to be blockbusters.

Media Networks:

Revenue in this segment rose from $5.77 billion in 2015 fiscal Q3 to $5.91 billion in fiscal Q3 2016, a growth of 2.4%. Operating income from this segment actually decreased slightly, from $2.38 billion in 2015 Q3 to $2.37 billion in 2016 fiscal third quarter.

In this segment, revenue from cable networks grew 1.4% but revenue from broadcasting increased by 4.8%. The operating income in broadcasting fell by 6% while that of cable networks increased by 0.6%. So there weren’t any big surprises in a segment that was under significant scrutiny due to the declining subscriber numbers of ESPN. While the subscriber declines were there, ESPN saw a rise in advertising and affiliate revenue which was partially offset by greater programming costs. The affiliate revenue growth was also partially offset by a subscriber decline and the adverse impact caused by the foreign currency translation.

Parks and Resorts:

This segment has always been a dependable one for Disney. There was a 6% year-over-year growth in the segment, from revenue of $4.13 billion in the third quarter of 2015 to $4.38 billion in 2016 Q3. Operating income also grew from $922 million to $994 million in this period.

  • This increased income that came from domestic operations could be attributed to greater guest spending as well as lower costs, but these were offset partially by lower volumes of guest attendance. Guests had to spend more since average ticket prices were higher at the cruise line and theme parks. The resultant lower attendance at the parks was offset partially by more occupied room nights.
  • Disney implemented demand-based pricing at its parks which could also account for the decline in guest visits. Thanks to this year’s fiscal calendar, the Easter holiday fell in the second quarter unlike last year where it was in the third quarter. Disney’s international operations were also negatively impacted by the massive preopening costs connected with the opening of Shanghai Disney in mid-June.

Overall, it does mean that Disney is in good financial health. Shares of the company rose 2.6% on Wednesday morning, the 10th of August. So it’s a company that has plenty of avenues to grow and identifies new opportunities.

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