) has reported adjusted earnings per share of $1.21 in its fiscal second-quarter, topping Wall Street estimates, as the entertainment giant's executive team looks to turn the page after emerging victorious in a fierce proxy battle earlier this year.
In a statement, Chief Executive Bob Iger, who was at the center of a fight with activist investors led by Trian Partners boss Nelson Peltz, said that a turnaround push he has been helming is yielding "positive results." Although the DTC segment is seen delivering "softer" results in the current quarter, Iger added that he still expects Disney's overall streaming business including sports subscription service ESPN+ to be profitable by the fourth quarter. Iger has overseen heavy investments in developing Disney's streaming presence, arguing that it will be a key part of an ongoing drive to revive the firm's share price performance, .Group-wide revenues for the quarter jumped to $22.