The Walt Disney Co. (DIS) moved to a loss in its second quarter, hampered by restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well.
While Disney said Tuesday that it foresees its streaming business softening in the current quarter due to its streaming service in India, Disney+Hotstar, it expects its combined streaming businesses to be profitable in the fourth quarter and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
Disney+ core subscribers climbed by more than 6% in the second quarter.
Revenue at Disney's domestic theme parks rose 7%, while its theme parks overseas reported a 29% increase.