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3w ago

Disney Surpasses Expectations with Q2 Growth in Streaming, Parks, and Entertainment

The company raised its full-year profit outlook by 16% and announced plans for a new Abu Dhabi theme park.

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 reported a 7% revenue increase to $23.6 billion and adjusted earnings per share of $1.45, exceeding analysts' forecasts.
  • Streaming services Disney+ and Hulu added 2.5 million subscribers combined, with the segment achieving $336 million in operating income, up from $47 million a year ago.
  • The Experiences division, including U.S. parks and cruise lines, saw operating income rise 9% to $2.5 billion, driven by increased guest spending and cruise bookings.
  • The Entertainment segment posted a 61% jump in operating income to $1.3 billion, bolstered by popular releases like 'Moana 2' and 'Mufasa: The Lion King.'
  • Disney announced plans for a new theme park in Abu Dhabi, marking its first major expansion into the Middle East and reinforcing its global growth strategy.