ESPN saw revenue of $13.2 billion and operating income of close to $1.5 billion for the first nine months of fiscal 2023, Disney revealed ahead of earnings next month when it plans to break out Sports as its own business segment — part of a restructuring initiated by CEO Bob Iger.
In comparison, the entire Entertainment segment, which includes everything but sports, had $31 billion in sales but just $1.2 billion in profits for the same period, according to an SEC filing.
Its an indication why, starting with its fourth-quarter/full-year earnings report next month, Disney will showcase three new divisions called Sports, Entertainment and Experiences.
Breaking out ESPN from the entertainment pack, a move announced back in February, was one of Iger’s most dramatic moves since he returned to helm Disney nearly a year ago.
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