Medianama

Disney's Q3 Revenue Surges

Key Financial Highlights

• Revenue increased by 4% to $23.2 billion.
• Operating income surged by 19% to $4.23 billion.
• Adjusted earnings per share beat expectations, reaching $1.39.

Disney's Streaming Success

The company's streaming business turned a profit for the first time, with an operating income of $47 million.

Disney+ surpassed 87.6 million global subscribers, contributing to the streaming revenue growth.

Growth Across Segments

Disney Parks, Experiences and Products revenue increased by 36% due to the reopening of parks and increased attendance.

Media and Entertainment Distribution revenue rose by 5%, driven by strong theatrical releases and higher TV advertising revenue.

Market Performance

Disney's stock price has risen by over 10% since the announcement of the Q3 results.

Analysts attribute the growth to the company's strong streaming performance and the success of its recent film releases.

Industry Comparison

Disney's revenue growth significantly outpaced the 1.1% industry average for the quarter.

The company's earnings growth was also higher than the industry benchmark, which saw a 3.5% increase.

Future Outlook

Disney is optimistic about its future growth prospects, citing the expansion of its streaming services and the upcoming release of new film and television content.

Analysts forecast further revenue growth for the company in the coming years, with a projected 4.5% average increase.

Https Www Medianama Com 2024 08 223 Disney Q3fy24 Earnings Revenue Growth 23 Billion Subscribers Drop