When Disney reported robust earnings in February, the activist investors then circling the company essentially called it a stunt — a temporary, heat-of-battle effort to fend them off and not, as Robert A. Iger maintained, proof that a struggling Disney had finally “turned the corner.”The Disney chief’s argument just got a lot stronger.
Disney blew past Wall Street’s expectations for a second consecutive quarter on Tuesday, in part because its flagship streaming service made money — a first.
Disney+ had been expected to lose more than $100 million in the most recent quarter, widening losses since its 2019 arrival to roughly $12 billion.
The company had previously predicted that Disney+ would become profitable in September; some investors and analysts have been skeptical about that, putting downward pressure on Disney shares.
Disney’s per-share earnings for the most recent quarter rose 30 percent increase from a year ago.
Persons:
Robert A, Iger, “, —, ” Hugh Johnston
Organizations:
Disney