Disney's streaming business turns profitable in first financial report since challenge to Iger
The 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
The Walt Disney Co. (DIS) moved to a loss in its second quarter, hampered by restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well.
While Disney said Tuesday that it foresees its streaming business softening in the current quarter due to its streaming service in India, Disney+Hotstar, it expects its combined streaming businesses to be profitable in the fourth quarter and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
Disney+ core subscribers climbed by more than 6% in the second quarter.
Revenue at Disney's domestic theme parks rose 7%, while its theme parks overseas reported a 29% increase.
