Disney posts solid 1Q results thanks to its theme parks and cost cuts
Disney has reported stronger-than-expected earnings in the final three months of 2023
By AP News
Published - Feb 07, 2024, 04:48 PM ET
Last Updated - Feb 07, 2024, 04:48 PM EST
SAN FRANCISCO (AP) — The Walt Disney Co. posted stronger than expected earnings in the October-December quarter, boosted by cost cuts and growing revenue from its theme parks business.
Disney earned $1.91 billion, or $1.04 per share, in the fiscal first quarter. That’s up 49% from $1.28 billion, or 70 cents per share, in the same period a year earlier. Excluding one-time accounting items, the company earned $1.22 per share in the latest quarter..
Revenue was $23.55 billion, roughly the same as last year's $23.51 billion.
Analysts, on average, were expecting earnings of 99 cents per share on revenue of $23.7 billion, according to a poll by FactSet.
