Walt Disney's Q3 Revenue Surges by 4% to $23.2 Billion
Key Highlights
* Revenue increased to $23.2 billion from $22.3 billion last year. * Operating income rose 19% to $4.23 billion. * Adjusted earnings per share beat analyst estimates by $1.39.
Financial Performance
The Walt Disney Company's fiscal third-quarter revenue experienced a 4% increase to $23.2 billion, exceeding analysts' expectations. This growth was driven by strong performances across its various business segments.
Segment Revenue (in billions)
* Media Networks: $7.9 (up 1%) * Parks, Experiences, and Products: $7.4 (up 7%) * Content Sales, Licensing, and Other: $2.6 (up 17%) * Direct-to-Consumer: $5.3 (up 15%)
Key Growth Drivers
Disney's revenue growth was fueled by a surge in attendance at its theme parks, increased streaming subscriptions, and higher content sales and licensing revenue. * Theme park attendance rose 7%, driven by popular attractions and the return of international visitors. * Disney+ subscriber base grew to 150 million, boosting revenue from streaming subscriptions. * Content sales and licensing revenue increased 17%, driven by the success of new releases like "Lightyear" and licensing deals for popular franchises.
Outlook
Disney's strong performance positions it well for continued growth in the future. The company is investing significantly in its streaming services, theme parks, and content production, which are expected to drive revenue and earnings growth in the coming years.
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