Todd Spangler NY Digital Editor Disney’s latest quarterly results overall sparked joy for the Mouse House — with the record-breaking “Inside Out 2” boosting profits and the company’s consolidated streaming business landing in the black for the first time.
That said, there were some mixed emotions: Operating profit for Disney’s domestic theme parks slipped 6% in the June quarter and the company warned that ongoing weak demand could hurt the segment’s results for “the next few quarters.” Meanwhile, Disney’s TV business, excluding ESPN, continued to decline.
Total revenue for the quarter increased 4%, to $23.16 billion, and operating income shot up 19% to $4.23 billion for the three months ended June 29 (Disney’s Q3 of fiscal 2024).
Adjusted earnings per share for the quarter were $1.39, up 35% from $1.03 in the year-prior quarter. The results topped Wall Street forecasts, as analysts on average expected revenue of $23.07 billion and EPS of $1.19, per financial data provider LSEG.
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