Disney's streaming business turns a profit in first financial report since challenge to Iger
Time:2024-05-08 10:17:55 Source:worldViews(143)
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year.
While Disney said Tuesday that it foresees its overall streaming business softening in the current quarter due to its platform in India, Disney+Hotstar, it expects its combined streaming businesses to be profitable in the fourth quarter and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
The direct-to-consumer business, which includes Disney+ and Hulu, posted quarterly operating income of $47 million compared with a loss of $587 million a year earlier. Revenue rose 13% to $5.64 billion.
You may also like
- New York governor regrets saying Black kids in the Bronx don't know what a computer is
- Warren Buffett draws thousands, but Charlie Munger will be missed
- Cheers and flames as Orthodox worshipers greet the ancient ceremony of the 'Holy Fire'
- Six Million Dollar Man star Lee Majors, is 85! See how great the actor
- Rainfall allows Spain's Catalonia to ease water restrictions for 1st time during drought
- South Sudan removes newly imposed taxes that had triggered suspension of UN food airdrops
- Gypsy Rose Blanchard, 32, shows off new nose after undergoing plastic surgery
- South Sudan removes newly imposed taxes that had triggered suspension of UN food airdrops
- US repatriates 11 citizens from notorious camps for relatives of Islamic State militants in Syria