Disney earnings: Streaming unit turns first profit while parks business lags

Category: Business

Disney reported its streaming division turned a profit for the first time, with Q3 adjusted earnings of $1.39 per share and revenue of $23.2 billion. However, the parks division faced challenges, leading to a 6% drop in operating income. The company raised its full-year adjusted earnings growth guidance to 30% and announced price hikes for Disney+ and Hulu. Despite a slight increase in Disney+ subscribers, average revenue per user fell. The parks business is expected to continue facing demand moderation, while ESPN showed growth in operating income.

Keywords: Disney, Streaming, Earnings Report

Source: Yahoo Finance

Update At: 8/7/2024

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