Disney’s posted solid profits and revenue in the second quarter as its domestic theme parks thrived and the company added well over a million subscribers to its streaming service.
For the three months ended March 30, Disney earned $3.28 billion, or $1.81 per share. The Burbank, California, company lost $20 million, or a penny per share, a year earlier.
Removing one time charges or benefits, earnings were $1.45 per share, easily topping the $1.18 that Wall Street was expecting, according to a survey by Zacks Investment Research.
Revenue rose 7% to $23.62 billion, also topping projections.
Revenue in Disney’s Entertainment segment climbed 9%, while revenue for the Experiences division increased 6%.
Disney’s direct-to-consumer business, which includes Disney+ and Hulu, posted quarterly operating income of $336 million compared with operating income of $47 million in the prior-year period. Revenue increased 8%.
