Disney's Financial Magic: Strong Gains in Streaming and Theme Parks
Disney reports robust financial performance in Q3 with significant gains in streaming subscribers and theme park revenue. The company announced a partnership with the NFL and plans for a new theme park. The search for CEO Bob Iger's successor continues as Disney eyes both internal and external candidates.
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Disney showed strong financial performance in the fiscal third quarter, driven by an increase in streaming subscribers and revenue growth at domestic theme parks. The company's adjusted earnings per share surpassed analysts' expectations, with significant contributions from the direct-to-consumer segment.
In a notable development, Disney has entered a nonbinding agreement with ESPN and the NFL. Under this agreement, ESPN will acquire NFL-related platforms, with the league receiving a stake in ESPN. Furthermore, Disney's strategic expansion continues with plans for a new theme park in Abu Dhabi.
Amid ongoing success, Disney is also focused on leadership succession, assembling a committee to identify CEO Bob Iger's replacement by the end of 2026. The company is evaluating internal and external candidates to lead Disney into the future.
(With inputs from agencies.)
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