Disney shares sink as streaming business falls shy of profitability [FOX Business Network]
Walt Disney Company (The) (DIS)
Last walt disney company (the) earnings: 2/4 04:05 pm
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Source: FOX Business Network
The entertainment giant said Tuesday that its combined streaming business saw revenues of $6.19 billion and an operating loss of just $18 million in the second quarter. That operating loss represented a decrease of 97% from the same period last year. Shares were lower during midday trading. The Walt Disney Co. Things were rosier for Disney's entertainment streaming business of Disney+ and Hulu. They "achieved an important milestone" of notching an operating income of $47 million in the quarter, CEO Bob Iger said. "That is particularly noteworthy when you consider we reported peak losses only 18 months ago," Iger said in a statement. Iger noted that Disney's path to streaming profitability "will not be linear." "While we're anticipating a softer third quarter due in large part to the seasonality of our India sports offerings, we fully expect streaming to be a growth driver for the company in the future, and we have prioritized the steps necessary to achieve this," he added
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DIS
Earnings
- 5/7/24 - Beat
DIS
Sec Filings
- 5/24/24 - Form SD
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- DIS's page on the SEC website