- Walt Disney Co’s theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company’s bid to draw audiences to streaming media.
Its biggest streaming bet, the family-oriented Disney+, is set to launch in November. The company told analysts in April that it expects Disney+ to achieve profitability in fiscal 2024. Disney also recorded a $353 million impairment charge from its ownership stake in media startup Vice. Overall net income jumped 85 percent, to $5.4 billion, thanks to Disney’s acquisition of a controlling stake in Hulu through the Fox acquisition.
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