In a surprise to some, Disney reported strong earnings for the third quarter of 2024.

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Disney’s latest earnings surpassed expectations, driven by Pixar’s “Inside Out 2” and “Deadpool & Wolverine.”

CEO Bob Iger highlighted a strategic shift, stating Disney aims to focus on entertaining rather than advancing… pic.twitter.com/9LBDsXlxTq

— Mario Nawfal (@MarioNawfal) August 7, 2024

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The company announced an adjusted earnings per share (EPS) of $1.39 and revenue of $23.16 billion, surpassing projections.

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Notably, Disney’s combined streaming services—including Disney+, Hulu, and ESPN+—generated a profit for the first time, with an operating income of $47 million.

However, Disney’s theme park division saw a 3% drop in income, attributed to a cooling off in consumer demand.

NEW: Disney’s overall streaming business turned a profit for the first time – but the parks segment income slipped 3% (YOY) due to “moderation of consumer demand” that exceeded the company’s expectations. Disney says weak Q3 demand could hurt results for “the next few quarters.” pic.twitter.com/IW0K4H6iWG

— Scott Gustin 🔜 D23 Expo (@ScottGustin) August 7, 2024

The company has indicated that this trend could affect future earnings for the coming quarters.

Despite this setback, Disney’s overall performance remained solid, buoyed by growth in its entertainment segment.

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