Disney earnings: Surge by Disney+ to nearly 95 million subscriptions leads to surprise profit

Disney earnings: Surge by Disney+ to nearly 95 million subscriptions leads to surprise profit
Spread the love

Walt Disney Co.’s streaming service, Disney+, proved again to be a big plus during a pandemic that has all but shuttered the Magic Kingdom’s other businesses. And that had Disney shares up 3% in after-hours trading Thursday.

A surge in Disney+ subscriptions, to 94.9 million, led a revenue rebound from the previous quarter as the media giant continues to double-down on direct-to-consumer sales.

Disney 
DIS,
+0.67%

 reported a surprise fiscal first-quarter profit of $17 million, or 2 cents a share, on sales of $16.25 billion, up from $15.8 billion in the year-ago quarter.

After adjusting for restructuring charges and other effects, Disney reported earnings of 32 cents a share, down from $1.53 a share in the year-ago quarter….



Original Author

Please follow and like us:
editor

editor

Live Updates COVID-19 CASES
RSS
Follow by Email