Walt Disney Co (DIS.N) earnings topped Wall Street forecasts for the most recent quarter as its streaming services picked up new customers and the pandemic-hit theme parks unit recorded a profit.
A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. REUTERS/Dado Ruvicearnings topped Wall Street forecasts for the most recent quarter as its streaming services picked up new customers and the pandemic-hit theme parks unit recorded a profit.
Disney+, Hulu and ESPN+ - the company's three online subscription offerings - gained close to 15 million new subscribers to total nearly 174 million. Disney+ had 116 million paying customers at the end of the quarter, just ahead of the 115.2 million consensus of analysts surveyed by FactSet. Disney's theme parks welcomed more visitors as pandemic restrictions eased. Theme park revenue rose for the first time in five quarters, hitting $4.34 billion.
The direct-to-consumer division, which includes Disney+, reported a loss of $293 million as it invested in programming and other costs. That compared to a loss of $624 million a year earlier.
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