Disney increased its quarterly income by 34%
Once again, Disney exceeded financial expectations, managing to increase its quarterly income by up to 34%. The Disney Plus streaming platform was one of the main factors for this new economic record to have happened, reported Forbes Mexico.
Last Wednesday, February 9, Walt Disney announced about one of its revenues for the first quarter of this year that has been better than expected, as they have recovered steadily thanks to its theme parks in the United States during the Holiday Season, as well as that a great growth of subscribers on Disney Plus.
a great fortune
The company's total revenue rose 34% to $21,820 billion in the quarter ending January 20,910, beating analysts' estimate, who thought it would gross $XNUMX billion, as reported by Refinitiv.
The streaming platform was the one that saved the moment of crisis, since the pandemic has left very bitter havoc in the economic sector and for Disney it was no exception.
The parks closed during 2020, as did the operations of the cruise ships and other complexes of the company.
This may represent that the entertainment sector at Disney increased by 8% in operations after the regular market closed.
The net profit of those operations that did not stop, showed a total of 1,150 million dollars, the equivalent of 63 cents per share in the entire quarter. Compared to the previous year comma where the profit was 29 million dollars or the equivalent of 2 cents per share.
Forbes also announced that "Investors are watching the streaming service's growth trajectory relative to its ability to meet fiscal 2024 forecasts."
Last November, CEO Bob Chapek backed up earlier forecasts that the company will go from 230000000 billion to 260 million subscribers on Disney Plus in just the end of the fiscal year by 2024.
Miami Daily
Author: Natasha Palís 7:31 am