Disney Profits Rise On Strong 'Moana 2' Sales

2025-02-05 09:16:25

(MENAFN- The Peninsula) AFP

New York: Disney reported higher quarterly profits Wednesday, posting increased revenues in its streaming business despite a drop in Disney+ subscribers.

The entertainment giant, which has raised subscription prices on streaming, pointed to the success of blockbuster "Moana 2" as a revenue driver, while income from amusement parks was dented somewhat by US hurricanes.

Profits came in at $2.6 billion, up 34 percent from the year-ago level on a five percent increase in revenues to $24.7 billion.

In the closely-watched streaming business, declines in international figures fueled an overall drop in Disney+ subscribers.

But the company scored higher revenue per subscriber in both domestic and international portions of Disney+ following price hikes.

Content sales and licensing revenue jumped by more than one-third due to strong "Moana 2" theatrical ticket sales.

In its amusement park division, Disney had increased revenues but lower profits. Because of Hurricane Milton, Disney shut Walt Disney world Resort in Florida for a day and canceled a cruise.

Disney confirmed key full-year targets for fiscal 2025,including the generation of $15 billion in cash provided by operations.

But Disney projected a "modest" decline in Disney+ subscribers compared with the first quarter.

Shares rose 1.1 percent in pre-market trading.

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