SAN FRANCISCO (AP) — The Walt Disney Co. posted stronger than expected earnings in the October-December quarter, boosted by cost cuts and growing revenue from its theme parks business.
Disney earned $1.91 billion, or $1.04 per share, in the fiscal first quarter.
Disney said it is achieving “significant cost reductions” across its businesses and reduced its selling, general and other operations expenses by $500 million.
It expects to add up to 6 million subscribers in the current quarter.
The company based in Burbank, California, said its theme parks business saw record revenue and operating income during the quarter.
Persons:
Disney, Bob Iger
Organizations:
FRANCISCO, Walt Disney Co, Disney, Revenue, FactSet, ESPN
Locations:
Burbank , California