US EditionDisney returns to profit in third quarter as streaming business starts making money for first time
- Disney returned to a profitable third quarter as its combined streaming business made money for the first time, with the movie Inside Out 2 performing well in theaters.
- The combined streaming businesses, including Disney+, Hulu, and ESPN+, achieved profitability for the first time due to a strong performance from ESPN+ and the direct-to-consumer unit.
- Operating income for Disney's entertainment segment nearly tripled to $1 million this quarter.
32 Articles
32 Articles
Disney’s Streaming Business Is Profitable for First Time, but Slowing US Park Business Ups Anxiety
Disney returned to a profitable third quarter as its combined streaming business started making money for the first time, along with a very strong showing in theaters for the movie "Inside Out 2."
American entertainment company Walt Disney generated a net profit of $2.62 billion (60.6 billion CZK) in the third quarter of its financial year, while a year ago it was in a loss of $460 million (10.6 billion crowns). The results beat expectations and bundled streaming services are also in profit for the first time. The company stated this in its statement on Wednesday.
Disney Finally Turns a Profit at Streaming
In the first quarter of 2024, the Walt Disney Company’s fiscal Q2, Disney’s direct-to-consumer business nearly broke even for the first time since Disney+ was born. From April to June, streaming profitability was finally reached, one quarter earlier than CEO Bob Iger himself had promised. Disney+ added just 700,000 subscribers during the second calendar quarter of the year, Disney’s fiscal third quarter, according to financial documents released…
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