Overview
- Disney reported $25.98 billion in revenue and adjusted earnings of $1.63 per share, beating estimates despite a year-over-year decline in net profit.
- The Experiences division set a record with $10.0 billion in revenue and $3.3 billion in operating income, leading overall results across theme parks and cruises.
- Streaming operating income rose about 72% to $450 million as the company shifts emphasis to profitability and stops reporting subscriber totals, with management targeting roughly $500 million next quarter and a 10% margin for the year.
- Entertainment revenue grew 7% to $11.6 billion on hits like Zootopia 2 and Avatar: Fire and Ash, while operating income fell about 35% due to higher marketing, production and transaction-related costs.
- Sports operating income dropped to $191 million after an approximately $110 million impact from a YouTube TV carriage dispute, and the board is expected to select Bob Iger’s successor soon, with Josh D’Amaro widely reported as the leading candidate.