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Disney Reports Strong Q2 Earnings With Streaming Profitability and Subscriber Growth

Unexpected Disney+ subscriber gains, robust parks revenue, and raised fiscal guidance highlight a successful quarter under Bob Iger's leadership.

FILE - People visit the Magic Kingdom Park at Walt Disney World Resort in Lake Buena Vista, Fla., April 18, 2022. (AP Photo/Ted Shaffrey, File)
A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid
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Overview

  • Disney posted adjusted earnings per share of $1.45 on $23.6 billion in revenue, surpassing Wall Street expectations.
  • Disney+ added 1.4 million subscribers, bringing its total to 126 million, defying prior forecasts of a modest decline.
  • The streaming division achieved $336 million in operating profit, a significant jump from $47 million a year ago.
  • The experiences segment, including U.S. parks and cruises, generated $8.9 billion in revenue and $2.5 billion in operating income, driven by higher attendance and guest spending.
  • Disney raised its full-year adjusted EPS guidance to $5.75, reflecting confidence in its diversified strategy and upcoming ESPN direct-to-consumer launch.