In a surprise to some, Disney reported strong earnings for the third quarter of 2024.
🚨DISNEY BACKS AWAY FROM WOKE AGENDA – TURNS A PROFIT
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 [1]
— Mario Nawfal (@MarioNawfal) August 7, 2024 [2]
The company announced an adjusted earnings per share (EPS) of $1.39 and revenue of $23.16 billion, surpassing projections.
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 [3]
— Scott Gustin 🔜 D23 Expo (@ScottGustin) August 7, 2024 [4]
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.