Disney earnings: Streaming unit turns first profit while parks business lags

) on Wednesday reported that its total streaming division turned a profit for the first time, though weakness in its parks division dented an otherwise positive report with the company noting a "moderation of consumer demand" towards the end of the quarter.

Disney stock initially rose in premarket trade on Wednesday before forfeiting these gains. Shares moved about 3% lower shortly after the opening bell. Coming into the report, Disney stock was roughly unchanged this year. "While we are actively monitoring attendance and guest spending and aggressively managing our cost base, we expect Q4 Experiences segment operating income to decline by mid single digits versus the prior year, reflecting these underlying dynamics," the company said in its release.

ESPN bucked the downward trend, with domestic operating income for the sports giant up 1% due to growth in advertising and subscription revenue.with the reveal of an upcoming joint venture partnership with Fox and Warner Bros. Discovery. The company is also working on a separate sports streaming platform for ESPN,It's also on pace to lead the box office in the back half of this year with the upcoming releases of "Moana 2" and "Mufasa: The Lion King.

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Disney returns to profit in third quarter as streaming business starts making money for first timeThe Walt Disney Co. returned to a profitable third quarter as its combined streaming business started making money for the first time and the movie Inside...
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Disney returns to profits in third quarter as streaming business starts making money for first timeThe Walt Disney Co. 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.
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Disney returns to profit in third quarter as streaming business starts making money for first timeDisney 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.
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Disney returns to profit in third quarter as streaming business starts making money for first timeDisney 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. Operating income for the entertainment segment nearly tripled to $1.
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Disney earnings preview: Muted parks growth, streaming hurdles expected to weigh on resultsDisney will report its fiscal third quarter earnings before the bell on Wednesday. Here's what to expect.
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