Disney's Stellar Quarter: Streaming Gains and Theme Park Boom Propel Growth
Disney posted stronger-than-expected quarterly profits with a 16% rise in adjusted earnings per share. Highlights include streaming and theme park growth, a new ESPN-NFL partnership, and Disney securing rights to WWE events starting 2026. Despite challenges, Disney continues to expand its entertainment and sports offerings.
Disney has reported a surprisingly robust fiscal third quarter, with the company's streaming television arm witnessing significant profit growth and increased consumer spending at U.S. theme parks boosting the bottom line. Adjusted earnings per share climbed 16% year-on-year to reach $1.61.
The entertainment giant has updated its full-year earnings forecast, raising the projected adjusted EPS to $5.85. This revised outlook is fueled partly by a landmark deal with the NFL, granting it a 10% equity stake in Disney's ESPN sports network.
Amid a downward trend in traditional TV consumption, Disney is ambitiously forging ahead with its streaming ventures and theme park expansions. Plans include a new direct-to-consumer ESPN platform and a significant WWE partnership, further deepening its entertainment footprint.
(With inputs from agencies.)
Google News