Disney combined streaming makes profit for 1st time; parks falter

3 months ago 10

(NewsNation) — Disney made a financial profit off of its combined streaming platforms for the first time, the company reported in its third quarter earnings announcement Wednesday, though it struggled when it came to its United States parks and experiences.

Total revenue for Disney in the past quarter was $23.1 billion, up from $22.4 billion during the same time period last year. In total, Disney's income was $3.1 billion this quarter, an improvement from the $0.1 billion loss it had in the previous year's third quarter.

Direct-to-consumer business, including Disney+ and Hulu, had a quarterly opening loss of $19 million, compared to the more than $5 million it lost a year ago.

The change in total revenue, Disney executives said, was driven by a growth in subscriptions and advertising revenue. A strong three months for ESPN+, which had a record-breaking number of adults aged 18-49 watching in primetime for the quarter, also helped.

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