The Walt Disney Inc. posted improved Q3 earnings beating Wall Street estimates on revenue and subscriber growth, according to a press release by The Walt Disney on Thursday.
- The company surpassed subscriber estimates for Disney+ to 116 million, over 2 million the market estimates.
- The average monthly revenue per subscriber for Disney+ declined 10% YOY to $4.16, attributable to a higher mix of Disney+ Hotstar subscribers compared to last year.
- Revenue for its direct-to-consumer rose 57% to $4.3 billion. Average monthly revenue per paid subscriber increased slightly for EPSN+ and Hulu.
- Disney’s Parks segment returned to profitability for the first time since the pandemic. Revenue in the segment soared 308% to $4.3 billion. The operating income reached $356 million compared to a loss of $1.87 loss in the same period last year.
The resurgence of the theme park industry is critical to Disney’s bottom line. In 2019, the segment accounted for 37% of the company’s total revenues. Content sales and licensing revenues dropped by 23%, as the operating income dropped by 58% to $132 million. DIS up 5.62%, premarket trading.