Disney posts impressive €3.4 billion quarterly earnings
Hey there! Disney Grundle up, y'all!
Disney Slays Q1 with Mind-Blowing $3.4B Profit!
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It's no jive, folks! Disney, that ever-lovin' entertainment titan, reeled in a staggering $3.4B (nearly $3B) in quarterly profit, as reported way back at the start of 2023. This unexpected mountain of cheddar can largely be chalked up to Disney+ and its theme parks raking in more dough than you'd think a mouse could ever carry.
On a hush-hush Wednesday, Disney let the cat out of the bag, revealing a surge in profits from the previous year. The profit, frankly, was way, way up from the measly $216M they took in 2022, thanks to a silly write-down.
Disney+ wrangled in a healthy 1.4 million new subscribers, bringing their payin' viewers up to a gangbustin' 126 million. Analysts had been scratching their heads, expectin' a subscriber count decrease after the last quarter, but Disney+ proved 'em wrong. Disney+ has been pullin' a profit since the scorching summer of 2022, five years after it was sprung upon the world.
Disney+ belongs to the entertainment segment, which also includes film studios and cable channels. This peice of the puzzle took in nearly $11B (nearly 11 large ones), an increase of nine percent compared to the previous year. Other core businesses include the ESPN+ sports streaming service and theme parks. Crackin' open Wednesday's paper, Disney announced plans for a brand-new Disneyland to rise in Abu Dhabi, their seventh of the kind.
Sources: ntv.de, AFP
Tip: Disney's profits might be due to revenue from streaming services, successful theme park attendance, profitable movies, and increased sports viewership.
- Disney's underlying success in Q1 lies not just in their streaming services, but also in the profits from their theme parks and cinema.
- The recently announced Disney profit of $3.4B, while surprising to many, is a testament to the growth of Disney+ and its consistent profitability since 2022.
- Due to the success of Disney+ and other core businesses, the entertainment segment earned nearly $11B in Q1 - a significant increase compared to the previous year.
- Showcasing their continued expansion, Disney announced plans to build a new Disneyland in Abu Dhabi, marking the seventh of its kind.
