Disney theme parks strength fuels profit beat, offsets ad weakness

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By Dawn Chmielewski and Lisa Richwine

LOS ANGELES, Nov 8 (Reuters) - Walt Disney exceeded Wall Street's earnings expectations on Wednesday as higher attendance at its Shanghai and Hong Kong theme parks offset a decline in advertising revenue at television network ABC.

The company reported per-share earnings, excluding certain items, of 82 cents in its fiscal fourth quarter ended Sept. 30, cupaflix.com - https://cupaflix.com - topping an average forecast of 70 cents a share, according to LSEG data. Quarterly revenue of $21.2 billion was largely in line with consensus estimates.

The company said it added nearly 7 million Disney+ subscribers in the quarter, with the inclusion of "Guardians of the Galaxy Vol. 3" and the original series "Star Wars: Ahsoka." Disney+ and Disney+ Hotstar together boast 150.2 million subscribers, ahead of Visible Alpha's estimate of 147.4 million.
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