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Disney’s parks rebound aids profit; Disney+ subscribers grow

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A theme-park comeback continued to help Disney’s results recover in the most recent quarter.

The company also added more subscribers to its Disney+ streaming service than analysts expected. Disney had closed or limited capacity at its theme parks and suspended cruises earlier in the pandemic. Domestic parks have reopened, and revenue in that division doubled in the most recent quarter, to $7.23 billion. Burbank, California-based Disney on Wednesday reported net income of $1.1 billion in the three months through Jan. 1, compared with $17 million in the fiscal first quarter the year before.

Disney shares popped 8% to $159.08 in aftermarket trading.

 

Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.

 

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