The good news is that Disney's (NYSE: DIS) streaming business lost less money last quarter than it did a quarter earlier. The bad news is that it's still losing plenty of it.

The media giant's direct-to-consumer arm suffered an operating loss of $1.0 billion during the three-month stretch ending in December, despite driving record revenue of $5.3 billion.

It would be easy to conclude the glass is now half-full -- or at least full enough -- for this young endeavor. And most investors did exactly that. Disney shares popped 8% higher in Wednesday's after-hours trading following the post-close release of the fiscal first-quarter figures.

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Source Fool.com