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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Disney’s streaming business turned a profit for the first timeDisney’s streaming business turned a profit for the first time, with Disney Plus, Hulu, and ESPN Plus earning $47 million in the third quarter of 2024.
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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 Out 2 did well in theaters.
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Disney's streaming business is profitable for the first time, but its parks unit lagsDisney notched a milestone in its streaming business: It reported profitability across its Disney+, Hulu and ESPN+ services for the first time.
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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
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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 Out 2 did well in theaters.
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