Disney’s streaming services, including Disney+ and Hulu, reported their first profitable quarter, marking a significant turnaround with a quarterly operating loss of just $19 million compared to $505 million a year earlier. This success was buoyed by strong box office performances from “Inside Out 2” and “Deadpool & Wolverine.”
Despite these gains, Disney faces challenges with its domestic parks. The company cited lower attendance and rising costs due to inflation, technology spending, and new guest offerings. Disney’s overall revenue rose 4% to $23.16 billion, surpassing Wall Street’s expectations.
As Disney plans to increase subscription prices for its streaming services in October, it remains cautiously optimistic about future earnings, despite the anticipated continued slowdown in park attendance.
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