The communications giant’s platform earns 53% more in its third fiscal quarter, with a profit of $1,409 million
The American leisure and entertainment multinational The Walt Disney Company posted an imputed net profit of USD 1,409 million (1,372 million euros) in the third quarter of its fiscal year (April-June), representing an increase of 53.5% on its result in the same period of the previous year, according to the company, reaching more than 221 million subscribers on its platforms, surpassing Netflix’s 220.6 million.
The multinational’s turnover between April and June reached 21,504 million dollars (20,947 million euros), 26.3% higher than the turnover corresponding to the same interval of the previous year.
By business segment, the revenue of the media and entertainment division increased by 11% to 14,110 million dollars (13,744 million euros), while the amusement park unit grew its turnover by 70% to 7,394 million euros (7,202 million euros). .
At the end of the third quarter, Disney had 152.1 million subscribers to its Disney+ service, with ESPN+ paying users reaching 22.8 million and Hulu’s reaching 46.2 million users, representing the total number of subscribers across the various platforms. The multinational’s platforms increased to 221.1 million, 27.3% more than a year before and above Netflix’s 220.6 million.
“We had an excellent quarter, (…) with excellent performance in our domestic theme parks, a strong increase in live sports viewership and significant subscriber growth in our streaming services,” said Bob Chapek, CEO of The Walt Disney Company.
For example, in the first nine months of its exercise, The Walt Disney Company made a net allocated profit of USD 2,983 million (2,906 million euros), 62.5% more than a year earlier.
The multinational’s turnover reached 62,572 million dollars (60,951 million euros), 28% more in the first nine months.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
