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Disney Reaches Profitability In Entertainment Streaming [Yahoo! Finance]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
Although it is still behind Netflix Inc (NASDAQ: NFLX ) on the streaming front, when excluding ESPN, Disney+ and Hulu reported a combined profit for the very first time. However, shares tanked 10% upon the report as overall revenue failed to impress for the fourth straight quarter and Disney guided for a softer third quarter for the experiences segment. Second Fiscal Quarter Highlights For the March quarter, Disney posted revenue grew 1% YoY to $22.08 billion, coming short of LSEG's estimate of $22.11 billion. Theme parks continued to do well with U.S. parks and experiences revenue increasing 7% to $5.96 billion. With increased attendance and higher prices at the Hong Kong Disneyland resort, international sales jumped as much as 29% to $1.52 billion. But California resort posted lower profits due to higher labor expenses. Restructuring and impairment charges pushed Disney to a loss of $20 million, or 1 cent per share, down from last year's comparable quarter profit of $1.27 bi
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