Disney's streaming business turns a profit in first financial report since challenge to Iger
Time:2024-05-08 10:24:57 Source:businessViews(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.
Previous:Alabama Senate committee delays vote on ethics legislation
Next:Surprise! Zendaya unveils SECOND red carpet look at Met Gala as she wows in corseted off
You may also like
- Emily Ratajkowski leaves NOTHING to the imagination as she goes underwear
- Industry sees OpenAI's Sora as a game changer
- In pics: French Open Badminton tournament
- Xi's Article on Economic Work to Be Published
- Marquette athletic director Bill Scholl plans to retire as he ends a decade
- Xi Jinping's Economic Thought Steers China Toward Modernity
- Explainer: How Is China's Vision of Building a Community with a Shared Future for Mankind Viewed?
- Xi Focus: China Pursues Development for People's Well
- Minnesota ethics panel to consider how to deal with senator charged with burglary