ESPN's streaming service will cost $4.99 and launch this spring

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Disney shares gained less than 1% in late trading. After adjusting for the one-time windfall and other effects, the company reported adjusted earnings of $1.89 a share, up from $1.55 a year ago, on revenue of $15.35 billion, up from $14.8 billion.

Tuesday's investor call was a busy one for Disney, who took the opportunity to lock down plans for multiple Star Wars TV projects along with a new film series from David Benioff and D.B. Weiss, the creative masterminds behind HBO's über-popular Game of Thrones.

Those regulatory processes that Iger is referring to could allow other companies to place a bid on the assets from 21st Century Fox, with the most recent rumor indicated Comcast might want to get into the mix. The app will also provide what the WatchESPN does now with streaming feeds of ESPN's family of networks along with option to subscribe to the complementary ESPN+. That trend continued in the quarter, which also was hit by fewer college football games compared with a year earlier.

On the bright side, Disney's Parks and Resorts revenue rose by 13% to US$5.2 billion.

Which is good news, seeing as Disney's media networks reported flat revenue and a 12% decline in operating income due to weaker ad sales at ESPN. The company's largest network, ESPN, will launch a streaming service for sports fans in 2018 followed by an entertainment offering the following year.

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"The strategic investments we've made have driven meaningful growth over the long term, and we remain confident in our ability to continue to deliver significant shareholder value", said Disney Chairman and CEO, Robert A. Iger.

"The company has clear tailwinds heading into 2018", GBH Insights analyst Daniel Ives said. The entertainment giant posted quarterly adjusted EPS of $1.89 and $15.35 billion in revenues. Analysts on average had expected revenue of $15.46 billion. The media conglomerate recorded a $1.6 billion gain due to recent changes to the USA tax law.

The success of Disney parks and resorts was driven by new attractions such as Pandora - the World of Avatar in Orlando, which helped increase attendance by 6% across the company's U.S. theme parks. The segment's theatrical business had a solid quarter due to the strong performances of Star Wars: The Last Jedi, Thor: Ragnarok, and Coco, and these three films collectively generated over $4.4 billion in the global box office.

Operating income for the studio declined 2 percent to $829 million, Disney said.

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