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Walt Disney Company has demonstrated remarkable financial performance, surpassing Wall Street’s quarterly earnings projections, driven significantly by the triumphant box office success of Moana 2 and enhanced profitability in its streaming division.
The entertainment giant reported a 5% increase in revenue, reaching £24.69 billion, marginally exceeding analysts’ forecasts of £24.62 billion. Operating income witnessed a substantial 31% year-over-year growth, amounting to £5.1 billion. Chief Executive Bob Iger expressed confidence in the company’s strategic direction, highlighting the quarter as “a strong start to the fiscal year.”
The Entertainment unit’s operating income nearly doubled compared to the previous year, reaching £1.7 billion, with Moana 2 emerging as a significant contributor. The animated sequel achieved a remarkable milestone, surpassing £1 billion in box office revenue during the Martin Luther King Jr Day weekend, joining an elite group of Walt Disney Animation films to achieve this feat.
Disney’s streaming services demonstrated continued strength, with Disney+, Hulu, and ESPN+ collectively generating an operating profit of £293 million, marking their third consecutive profitable quarter. This represents a notable turnaround from the £138 million loss recorded in the same period last year, despite a marginal 1% decline in Disney+ subscribers following a price adjustment in October.
The company’s theme park operations faced challenges, particularly in Florida, where hurricanes Helene and Milton impacted domestic park performance. The Experiences segment, encompassing parks, consumer products, and the cruise line, maintained steady operating income at £3.1 billion, while international parks exhibited robust growth with a 28% increase in operating income.
The Sports unit, including ESPN network and Star India operations, achieved an operating income of £247 million, reversing previous losses, partially attributed to improved performance at Star India as Disney progresses towards merging its Indian media assets with Reliance Industries.
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