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Disney Posts Better-Than-Expected Quarterly Results, Nears Streaming Profitability Goal

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deadline.com
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Disney topped Wall Street forecasts for its fiscal second quarter and inched closer to the long-awaited milestone of streaming profitability.

Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents.

Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02. The entertainment direct-to-consumer operation finished the quarter in the black.

The company said it still expects its combined streaming businesses to be profitable in the fiscal fourth quarter, in line with guidance first established at the start of the streaming wars in 2019.

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