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Walt Disney beats earnings targets with help from 'Moana 2'

Walt Disney sharply outperformed Wall Street's quarterly earnings estimates on Wednesday, with results buoyed by the strong holiday box office performance of animated sequel "Moana 2" and higher profits at the company's streaming business.
Walt Disney Co. reported quarterly earnings that surpassed Wall Street expectations, driven by strong performances in its theme parks and the announcement of "Moana 2" set for release in November 2024. The company's adjusted earnings per share were $1.22, beating the consensus estimate of $0.99, while revenue reached $23.55 billion, slightly above the expected $23.47 billion. Disney's direct-to-consumer business, including Disney+, saw a narrower operating loss of $138 million compared to $984 million the previous year, with a subscriber increase to 111.3 million. Additionally, Disney announced a $1.5 billion investment in Epic Games, signaling a move into the gaming industry. Despite these positive developments, Disney's stock experienced a slight decline in after-hours trading.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/media-telecom/walt-disney-beats-earnings-targets-with-help-moana-2-2025-02-05/ ]