Saturday , October 1 2022

Disney: Streaming investments lead to third quarter results



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The stock, which has gained 27% since the start of the year and set a record last week, brought 5% to $ 135 after the stock market.

With the exception of some outstanding items, Disney posted $ 1.35 earnings per share in the third quarter, lower than the IBES Refinitiv consensus of $ 1.75.

Disney +, a family-friendly subscription service, is the largest digital game of the American group. It is due to begin in November, while the older programming will be the Hulu Reserve, which Disney now controls.

The international and direct-to-consumer subsidiary suffered an operating loss of $ 553 million, up from $ 168 million a year earlier due to Hulu's consolidation and investment in Disney + and vision. ESPN's online sports channel.

Amusement park operating revenues grew 4% to $ 1.7 billion, while Media Networks (ESPN, Disney Channel, FX) grew 7% to $ 2.1 billion,

(Lisa Richwine in Los Angeles and Vibhuti Sharma in Bangalore, Wilfrid Exbrayat for French Service, edited by)

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