Disney Shines with Strong Earnings and Expansion Plans
Walt Disney exceeded Wall Street expectations with increased U.S. theme park spending and an unexpected rise in Disney+ subscribers. Despite challenges in traditional TV, Disney plans to boost streaming profits and expand parks. Earnings and revenue surpassed forecasts, and Disney anticipates continued growth.
Walt Disney Company exceeded Wall Street's forecasts in its quarterly financial report, driven by increased spending at U.S. theme parks and a surprising uptick in Disney+ streaming subscribers.
In addition to reporting earnings, Disney announced plans to build a new theme park in Abu Dhabi, boosting investor sentiment as shares climbed 5.8% in premarket trading.
Despite the decline of traditional TV, Disney aims to amplify streaming and park revenue, while the launch of Disney Treasure has spurred cruise line growth.
(With inputs from agencies.)
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