Disney Profit Beats Expectations as Movies, Streaming Post Gains

Disney's Q4 earnings report shows strong growth in streaming and movies

Walt Disney Co. (DIS) reported strong fourth-quarter earnings on Wednesday, beating analyst expectations on both revenue and profit. The company's parks, experiences, and products division saw a 21% increase in revenue, while its streaming business, Disney+, added 14.6 million subscribers in the quarter. Disney's film division also had a strong quarter, with "Black Panther: Wakanda Forever" and "Avatar: The Way of Water" both performing well at the box office.

Streaming revenue grows 13% to $5.3 billion

Disney's streaming business continues to grow rapidly. In the fourth quarter, Disney+ added 14.6 million subscribers, bringing its total to 164.2 million. ESPN+ added 2.4 million subscribers, bringing its total to 8.5 million. Hulu added 800,000 subscribers, bringing its total to 30.4 million. Overall, Disney's streaming revenue grew 13% to $5.3 billion in the quarter.

Parks, experiences, and products revenue climbs 21% to $8.7 billion

Disney's parks, experiences, and products division also had a strong quarter. Revenue increased 21% to $8.7 billion, driven by higher attendance at its theme parks and increased spending on merchandise. The company's domestic theme parks saw a 20% increase in attendance, while its international theme parks saw a 30% increase in attendance.

Film revenue increases 18% to $2.4 billion

Disney's film division had a strong quarter, with "Black Panther: Wakanda Forever" and "Avatar: The Way of Water" both performing well at the box office. Revenue increased 18% to $2.4 billion in the quarter. The company's other films, such as "Strange World" and "The Banshees of Inisherin," also performed well at the box office.