Disney's streaming business turns profitable in first financial report since challenge to Iger

FILE - A Disney logo forms part of a menu for the Disney Plus movie and entertainment streaming service on a computer screen in Walpole, Mass, Nov. 13, 2019. Walt Disney's moved to a loss in its second quarter, hampered by significantly higher restructuring and impairment charges, but its streaming business was profitable and theme parks continued to be a strength. While The Walt Disney Co.

“Looking at our company as a whole, it’s clear that the turnaround and growth initiatives we set in motion last year have continued to yield positive results,” CEO Bob Iger said in a prepared statement.For the period ended March 30, Disney lost $20 million, or a penny per share. That compares with a profit of $1.27 billion, or 69 cents per share, a year ago.

Adjusted earnings were $1.21 per share, easily beating the $1.12 per share that analysts polled by Zacks Investment Research predicted.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney's streaming business turns profitable in first financial report since challenge to IgerThe Walt Disney Co. moved to a loss in its second quarter, hampered by significantly higher restructuring and impairment charges, but its adjusted profit topped Wall Street’s view and its streaming business was profitable
Source: sdut - 🏆 5. / 95 Read more »