Skift Take
Individuals are gathering to theme parks despite the increase in Delta alternative cases in Florida. Will this be a short-term healing or will earnings keep rising?
Ruthy Muñoz
Walt Disney Co reported better-than-expected quarterly profits on Thursday, as it generated new streaming subscribers and visitors began to return to its theme parks.
Shares of the home entertainment company rose 2.6 percent in prolonged trading.
Disney’s Disney+ service has actually done well in the pandemic-led boom in streaming, establishing a strong base to compete with Netflix Inc and others.
With the easing of the majority of U.S. limitations and rising vaccination rates, theme park revenue rose for the very first time in 5 quarters, hitting $4.34 billion.
The business’s total income rose 45 percent to $17.02 billion in the 3rd quarter, topping experts’ estimate of $16.76 billion, according to IBES data from Refinitiv.
Net income from continuing operations was $923 million, or 50 cents per share, compared to a loss of $4.72 billion, or $2.61 per share, a year earlier.
(Reporting by Tiyashi Datta and Eva Mathews in Bengaluru; Modifying by Maju Samuel)
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