Disney 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 started making money for the first time and the movie Inside Out 2 did well in theaters.

For the period ended June 29, Disney earned $2.62 billion, or $1.43 per share. A year earlier it lost $460 million, or 25 cents per share. The company made $254 million in operating income from content sales and licensing helped by the strong performance of Inside Out 2 at movie theaters, which is now the highest-grossing animated film of all time.

Disney said in May that it expected its overall streaming business to soften in the third quarter due to its platform in India, Disney+Hotstar. The company also said at the time that it anticipated its combined streaming businesses to be profitable in the fourth quarter, so the money-making quarter was a surprise.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Shopify stock soars in premarket on better-than-expected earnings, lower operating expensesE-commerce software giant had warned operating expenses would rise in the second quarter, but end up falling by 8% from first-quarter levels
Источник: globeandmail - 🏆 5. / 92 Прочитайте больше »