Powered by strong performances by its domestic theme parks and streaming services, the Burbank-based Walt Disney Co. reported strong second-quarter earnings Wednesday, with a 7% jump in revenue compared to the same quarter last year.
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The strong earnings report came on the day the company announced plans to build a new theme park in Abu Dhabi, its seventh global resort.
Disney reported second-quarter revenue of $23.6 billion, ahead of expectations and up from $22.1 billion in the second quarter of 2024. The company also reported adjusted earnings per share of $1.45, up 20% from $1.21 a year ago.
The company's domestic parks saw a 13% jump in operating income from the same quarter last year, coming in at $1.8 billion, while its direct-to- consumer operating income jump from $289 million last year to $336 million in the second quarter this year.
Disney+ streaming service subscriptions jumped by 1.4 million since the end of the first quarter of this year, reaching 126 million.
"Our outstanding performance this quarter -- with adjusted EPS up 20% from the prior year driven by our Entertainment and Experiences businesses - - underscores our continued success building for growth and executing across our strategic priorities," Disney CEO Bob Iger said in a statement. "Following an excellent first half of the fiscal year, we have a lot more to look forward to, including our upcoming theatrical slate, the launch of ESPN's new (direct-to-consumer) offering, and an unprecedented number of expansion projects underway in our Experiences segment. Overall, we remain optimistic about the direction of the company and our outlook for the remainder of the fiscal year."
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