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Disney Reports First Streaming Profit, EPS $1.21, Revenue $22.08B
May 7, 2024, 12:07 PM
Walt Disney Co. reported its quarterly earnings, revealing a significant milestone with its streaming services turning a profit for the first time. The company posted adjusted earnings per share (EPS) of $1.21, surpassing the expected $1.12, and generated revenue of $22.08 billion, slightly below the forecast of $22.1 billion. Disney+ now has 153.6 million subscribers, and Hulu has 50.2 million. The streaming segment reported a profit of $47 million. Despite the streaming success, Disney's overall financial performance was mixed, with a slight revenue miss and a decline in its traditional TV business. The company's stock experienced a decline, reflecting investor concerns over the softer outlook for the next quarter and weaker performance in other segments.
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