Walt Disney Co. beat quarterly profit expectations but fell short on sales as strength in its theme-park and streaming businesses failed to fully offset declines at traditional television networks. Adjusted earnings per share rose 16% to $1.61 for the fiscal third quarter, topping the $1.46 analyst consensus, while revenue grew 2% to $23.7 billion. The company lifted its full-year adjusted EPS outlook to $5.85, yet the stock slipped roughly 2% in early New York trading on lingering concerns about pay-TV weakness. Operating income at the Parks, Experiences and Products division climbed 13% to $2.5 billion, and the direct-to-consumer segment swung to a $346 million profit as combined Disney+ and Hulu subscriptions reached 183 million. Linear television income fell sharply, and the studio unit remained under pressure, underscoring the shift in consumer behavior that Chief Executive Officer Bob Iger is trying to navigate. Disney’s ESPN arm deepened its ties with the National Football League, agreeing to give the league a 10% stake in ESPN and extending rights to the NFL Draft. In return, Disney will acquire NFL Network and RedZone and raise ESPN’s slate to 28 regular-season NFL games, up from 25. The content will be folded into ESPN’s stand-alone streaming service, set to debut on Aug. 21 at $29.99 per month, a move Chief Financial Officer Hugh Johnston said will be accretive in its first year. The company also clinched a five-year pact making ESPN the exclusive U.S. home for WWE premium live events starting in 2026 and said it is exploring wider sports-content bundles. The flurry of deals highlights Disney’s strategy of leveraging live sports and its parks business to counteract the ongoing erosion of conventional television revenues.