Disney brought in $17 billion in revenue during its fiscal third quarter
Disney+’s growth rebounded during the company’s most recent quarter with 116 million subscribers globally, blowing past analysts’ expectations of 112 million.
The company reported revenue of $17.02 billion during the quarter ended July 3, 2021, which represents its fiscal third quarter. Analysts following the stock via Yahoo! Finance expected Disney revenue to come in at $16.8 billion. Disney also posted earnings per share of 80 cents, when analysts were expecting a per share value of 56 cents.
Disney+’s total is up from the 103 million it reported back in May. Among Disney’s other streaming services, ESPN+ now has 14.9 million subs, while Hulu has 39.1 million for its on-demand service and an additional 3.7 million for its Hulu + Live TV option.
“We ended the third quarter in a strong position, and are pleased with the Company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “We continue to introduce exciting new experiences at our parks and resorts worldwide, along with new guest-centric services, and our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms.”
Source: Read Full Article