Walt Disney (NYSE:DIS) reported its fiscal second-quarter results after market close on Wednesday. The earnings report sheds some light on the impact of Disney's recent major acquisition of Twenty-First Century Fox assets (21CF), and it highlights rising costs to support the company's investments in its streaming services -- one of which is due to launch later this year.

Here's an overview of the results.

A scene from Avengers: Endgame.

A scene from "Avengers: Endgame." Image source: Walt Disney.

1. Revenue of $14.92 billion

Disney's top line increased 3% year over year to $14.92 billion. This beat analysts' average estimate for revenue of $14.36 billion. When backing out $373 million in revenue from the 11 days of owning 21CF, revenue was $14.5 billion -- flat compared to the year-ago quarter.

2. Adjusted earnings per share of $1.61

Disney's adjusted earnings per share fell 13% year over year to $1.61. This figure also came in ahead of a consensus analyst estimate for adjusted earnings per share of $1.58.

3. A $393 operating loss in direct-to-consumer and international

Lower profitability in Disney's second quarter of fiscal 2019 compared to the year-ago quarter was partly due to a tough comparison in studio entertainment (Captain Marvel results couldn't compare to the success of Black Panther and Star Wars: The Last Jedi in the year-ago quarter). But a $393 million operating loss in Disney's direct-to-consumer and international segment (compared to $188 million in the year-ago quarter) weighed heavily on Disney's profits. The bigger segment loss reflects ramped-up investment in ESPN+ and in Disney's upcoming launch of Disney+, as well as the consolidation of Hulu's losses since Disney now has a controlling stake in the streaming-TV service.

4. Parks, experiences, and products operating income of $1.5 billion

Disney's parks, experiences, and products revenue rose 5% year over year during the quarter to $6.2 billion. But growth in the segment's operating income was even more pronounced, rising 15% year over year.

Disney said the segment's operating income benefited from strength at its domestic theme parks and resorts as guest spending increased and more rooms were booked at Walt Disney World Resort. In addition, the segment benefited from growth in consumer products operating income as a result of performance in Disney's games business.

5. Media networks operating income fell 3%

Media networks, which accounts for more than half of Disney's operating income, saw operating income fall 3% year over year. Revenue for the segment was flat year over year.

Disney+ launches on Nov. 12

Overall, Disney's fiscal second quarter highlighted solid results, considering the tough comparison in its studios business in the year-ago, and it captured heavy ahead of the company's most important product launch in years.

Looking ahead, management has its sights set on the all-important date of Nov. 12, when it will launch its Disney-branded streaming-TV service, Disney+. Capitalizing on the wild momentum of Avengers: Endgame, the new movie will stream exclusively on Disney+, the company said in its fiscal second-quarter earnings release.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.