Disney earnings topped its expectations, thanked to the profits at ESPN+ and a continued growth at theme parks, but a decline in ad revenue weighed on the top line.<\/p>\n
Sharing its plans, the entertainment giant said it plans to continue to \u201caggressively manage\u201d its cost base, which involves increasing its cost-cutting measures by another $2 billion to a target of $7.5 billion.<\/p>\n
Shares of the company rose by 4% on Wednesday till the closing bell.<\/p>\n
The plunge in the revenues from ad was primarily from Disney\u2019s ABC Network and other owned TV stations, which saw lower political ads in the quarter. Over the summer, CEO Bob Iger had said that the company might suggest selling its TV assets.<\/p>\n
Meanwhile, Disney witnessed a new 7 million subscribers, compared to the previous quarter, which brings its total number of users to 150.2 million, including Hotstar. Compared with the year earlier, the streaming also narrowed down its losses.<\/p>\n
It was expected that Disney would register a total of 148.15 million subs for the quarter. The company touted addition of the theatrical titles such as \u201cLittle Mermaid,\u201d \u201cElemental,\u201d and \u201cGuardians of the Galaxy: Vol.3.\u201d It also brought Star Wars series \u201cAhsoka\u201d to the streaming platform.<\/p>\n","protected":false},"excerpt":{"rendered":"
Disney earnings topped its expectations, thanked to the profits at ESPN+ and a continued growth at theme parks, but a\u2026<\/p>\n","protected":false},"author":175,"featured_media":10547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84],"tags":[623],"class_list":["post-10531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecom-media","tag-disney"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/10531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/175"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=10531"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/10531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/10547"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=10531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=10531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=10531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}