Financial

Disney Barely Hedges Its Streaming Bet

Disney sure isn’t playing it safe with streaming.

The entertainment giant’s fiscal third-quarter results late Wednesday were largely a hit. Revenue and operating income surpassed Wall Street’s expectations, thanks mostly to strength in its domestic theme parks, where operating profits are now exceeding prepandemic levels. The company’s cable TV and broadcast business held steady, and it managed to add 14.4 million net new subscribers to its Disney+ streaming service—well over the 10 million additions expected by analysts and the best growth the service has seen in six quarters. Disney’s share price jumped nearly 7% following the results.

Source: https://www.wsj.com/articles/disney-barely-hedges-its-streaming-bet-11660172177

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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