Overview
- Disney reported about $25.2 billion in fiscal Q2 revenue, up roughly 7% and above forecasts, which pushed the shares up around 7% to 8%.
- Its direct-to-consumer unit, which includes Disney+ and Hulu, reached a double-digit profit margin after years of losses, helped by price increases, more ad sales, and user growth.
- Parks, cruises, and products rose about 7% to roughly $9.5 billion as higher guest spending helped offset a 1% dip in U.S. park attendance, and the company plans to expand its cruise fleet to 13 ships by 2031.
- Sports was a weak spot as ESPN’s profits fell about 5% because fees to secure game rights and production costs climbed.
- Disney raised its share buyback to at least $8 billion for this fiscal year, and new CEO Josh D’Amaro set priorities around content, global reach, and technology while guiding to double-digit earnings growth despite tougher economic conditions.