The Walt Disney Company exhibited details of its Disney+ streaming service at a Disney expo in August. The service goes live Nov. 12.Disney reported quarterly earnings on Tuesday, growing revenue in the quarter to $22.1 billion. It also achieved its first-ever profit in its Disney Streaming division .Disney is the bellwether for the overall health of the traditional studio system headquartered in Los Angeles.
Disney achieved this milestone with a mix of price hikes and spending cuts. It only launched a couple of new series and debuted Taylor Swift’s concert movie.Revenue dropped 8% for the quarter and profitability dipped 22%. Cord-cutting and lower ad revenue contributed to this decline.Technically yes. First quarter linear TV losses were $234 million year over year, but streaming was up $659 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple Earnings Preview: Low Bar Could Set the Stage for Post-Earnings RallyStocks Analysis by Investing.com (David Wagner) covering: Apple Inc, Tesla Inc. Read Investing.com (David Wagner)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »
Earnings playbook: Beware of these stocks reporting soon where analysts are slashing their earnings expectationsThese names have seen big drops in what analysts expect them to report for earnings.
Source: CNBC - 🏆 12. / 72 Read more »
Rihanna Net Worth 2024: Fenty Beauty Earnings, 'Black Panther 2' EarningsRihanna's net worth in 2024 reveals her 'Black Panther 2' salary and how much she makes from Fenty Beauty, Savage x Fenty and her music career.
Source: StyleCaster - 🏆 104. / 63 Read more »
What is Earnings Season & What to Look for in Earnings Reports?Learn about earnings season and when it occurs, what to look for in earnings reports, and top tips for trading the period.
Source: DailyFX - 🏆 305. / 63 Read more »
Q1 S&P 500 Earnings: Another Normal Earnings Season in the Offing?Stocks Analysis by Brian Gilmartin covering: S&P 500, Intuitive Surgical Inc, Johnson & Johnson, Abbott Laboratories. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »
3 things we learned from Disney's latest earnings reportDisney CEO Bob Iger's focus on wringing profits from the entertainment giant's streaming business is bearing fruit.
Source: CBSNews - 🏆 87. / 68 Read more »