The Walt Disney Co. blew past Wall Street earnings expectations in its latest quarter, the company’s fiscal Q2.
The company delivered revenue of $23.6 billion, up 7 percent from a year prior, and operating income of $4.4 billion, an improvement of 15 percent from a year earlier.
Every division — Entertainment, sports and experiences — beat expectations, with streaming driving particular growth in the entertainment division.
Disney’s entertainment division had revenue of $10.7 billion, up 9 percent vs the prior year, with operating income of $1.3 billion, up 61 percent from last year. Direct-to-consumer operating revenue soared to $336 million, compared to $47 million in the same quarter a year ago.
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In fact, after losing 700,000 Disney+ subscribers in the prior quarter, the company added 1.4 million subscribers in its latest quarter, bringing its Disney+ subscriber total to 126
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