Disney's streaming business turns a profit in first financial report since challenge to Iger
Time:2024-05-08 10:24:52 Source:styleViews(143)
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year.
While Disney said Tuesday that it foresees its overall streaming business softening in the current quarter due to its platform in India, Disney+Hotstar, it expects its combined streaming businesses to be profitable in the fourth quarter and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
The direct-to-consumer business, which includes Disney+ and Hulu, posted quarterly operating income of $47 million compared with a loss of $587 million a year earlier. Revenue rose 13% to $5.64 billion.
Previous:China, Philippines Cement Ties in New Year
Next:Harvard president resigns amid new plagiarism allegations
You may also like
- Chinese, Vietnamese Leaders Exchange Spring Festival Greetings
- China installs deepwater jacket for offshore oil development
- China’s wisdom in taming desertification
- Scenery of cole flowers in Mugang Township, China's Guizhou
- Xi Extends Condolences to Nepali President over Plane Crash
- Special freight train to help stabilize mainland supply of goods to Hong Kong
- Xi Focus: Xi Calls for More Achievements in Party's Theoretical Innovation
- Xi Sends Congratulatory Letter to Event Marking 70th Anniversary of 'Icebreaking Mission' in China
- Rice bred in southern China grows well