Consumption Walt Disney profits from movie hits and streaming successes
Walt Disney records revenue and profit growth, driven by successful films and the streaming business.
14.11.2024, 17:21
SDA
Walt Disney benefited from successful film releases and the streaming business in the past financial year. Films such as "Inside Out 2" and "Deadpool & Wolverine" attracted large audiences, while CEO Robert Iger's cost-cutting measures also bore fruit.
The company's financial situation has improved, with an increase in revenue and profit that exceeded analysts' expectations. Iger plans to further increase profits in the coming 2024/25 financial year.
In the financial year that ended in September, Disney increased its revenue by three percent to 91.4 billion dollars. In the last quarter, revenue even rose by six percent. Net profit almost doubled to just under 5 billion dollars. Adjusted earnings per share rose by almost a third to 4.97 dollars. In addition to the successful films, the streaming business also contributed to the positive result, which was profitable for the second quarter in a row.
Disney has made considerable investments in the streaming business in order to compete with market leader Netflix. However, in view of the high costs, Iger has decided to reduce spending, which also includes lower production of expensive series and films from the "Star Wars" and Marvel universes.
The theme park and cruise business was somewhat weaker towards the end of the year, although it grew significantly over the year as a whole.
