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published in Blogs
Aug 11, 2022
Disney (DIS, $112.53) crushes Q3 earnings expectations

Disney (DIS, $112.53) crushes Q3 earnings expectations

Walt Disney  reported  third quarter earnings that surpassed expectations.  The entertainment giant also announced adding more than 14 million new subscribers to its Disney+ streaming service.

Disney’s adjusted diluted earnings for the three months ending in June increased +36.5% from the year-ago quarter to $1.09 per share, well above the Street expectations of  97 cents per share.

Revenues climbed +26% year-over-year to $21.5 billion, exceeding the Street forecasts.

Subscriber count  for its Disney+ reached 152.1 million, beating  analysts' estimates by around 3 million. It added 14.4 million new subscribers over the quarter.

Parks and Experiences revenues surged more than +70% from the year-ago period to $7.4 billion, topping the Street's estimate.

 

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