Disney reported better-than-expected results for its fiscal first quarter, with adjusted earnings per share of $1.63 and revenue of $26 billion. The company’s parks unit had record revenue of $10 billion, but its sports unit saw a 23% drop in operating income due to higher costs. Disney stock initially rose 3% but was down 1.5% after the news.

The company is close to naming Josh D’Amaro, who leads its parks and experiences business, as its next CEO. Disney’s entertainment unit saw a 7% increase in revenue to $11.6 billion, while its streaming business revenue rose 11% to $5.3 billion. The film studio had strong box office performances, but profits fell due to higher costs.

Read more at Yahoo Finance: Disney reports profit hit on higher costs, while parks business shines as CEO search narrows