As Disney reported better-than-expected financials for the fiscal first quarter, CEO Bob Iger said the company is “embarking on a significant transformation” that will reshape the company he rejoined last November.
The media giant showed improvement across a range of financial categories during the quarter ending December 31, compared with its dismal showing last November just prior to the ouster of CEO Bob Chapek.
Revenue rose 8% to $23.5 billion compared with the year-ago period and earnings per share hit 99 cents, excluding certain items.
Both the revenue and profit line outdid Wall Street analysts’ expectations. Theme parks, which have come roaring back to life after the grueling struggle with Covid, powered the quarterly performance.
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