SAN FRANCISCO (AP) — Disney won over more fans on Wall Street with its latest quarterly performance, despite a slight drop in its earnings.

The downturn announced Tuesday was less pronounced than the modest dip analysts anticipated as Walt Disney Co. digested higher programming costs at its ESPN television network and dealt with a less appealing line-up of home video releases in its movie studio. Higher expenses for distributing box-office hits such as “Lincoln” and “”Wreck-It-Ralph” also created a drag during the holiday-season quarter.