The animated film Inside Out 2 and the streaming business drove earnings higherfilm franchise in the fiscal third quarter, as it helped propel Disney earnings higher and pushed them beyond analysts’ estimates., released in 2015, helped propel Disney’s struggling streaming business to a quarterly profit for the first time — a major milestone for the media giant.
The film, which opened on June 14, is the number-one film of 2024 making $628 million domestically and $1.56 billion worldwide. The direct-to-consumer streaming business, which includes Disney+, Hulu, and ESPN+, generated $47 million in profit on an adjusted basis. That is up from a $512 million net loss in the same quarter a year ago. However, when you take out ESPN+, which is included in the Sports division in GAAP earnings, the DTC streaming business had a $19 million net loss, which is still far better than the $505 million net loss in Q2 2023.. Inside Out and the trailer was responsible for bringing in 1.
However, investors seemed to be a bit concerned about the Q3 results for the Experiences division, which includes theme parks. Revenue in this segment rose 2% year-over-year to $8.4 billion, led by international revenue, up 5%. It also called for continued, and improved, profitability in its streaming business with Disney+ subscribers increasing and film division revenue similar to Q3.
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