Disney on Wednesday reported a profitable third quarter after recent financial struggles, which included its streaming business turning a profit for the first time.According to the Associated Press , Disney's direct-to-consumer division, which includes Disney+ and Hulu, reported a reduced operating loss of $19 million, significantly down from the $505 million loss the previous year. Revenue for this segment rose 15 percent to $5.81 billion.
16 billion, surpassing Wall Street's forecast of $22.91 billion, the AP reported.The company now anticipates a 30 percent growth in full-year adjusted earnings per share, the AP reported.Newsweek reached out to Disney via email for comment.However, the news comes as Disney's theme parks have been underperforming. Experts cite price hikes and increased competition as reasons for the decline in visitors following the COVID-19 pandemic.
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