The Walt Disney Co. reported its fiscal Q3 earnings early Wednesday, with films like Toy Story 5, streaming, and its lucrative experiences division powering its results.
The company missed Wall Street expectations for revenue, but beat them in operating income and earnings per share, with stronger-than-expected theme park performance helping to bolster its bottom line.
The company also teed up some big changes coming to its divisions, teasing a plan to turn Disney+ into “a comprehensive membership ecosystem,” with the first elements of that vision rolling out early next year.
Meanwhile, the company’s lucrative consumer products segment will move from being part of Disney’s experiences division and into its entertainment division: “We believe this shift will have strategicand operational benefits by bringing the monetization of our IP through consumer products closer to thestudios that create that IP,” the company writes.
Disney reported revenue of $25.2 billion, up 7 percent from a year ago, with segment operating income of $5.5 billion, up 21 percent from a year ago.
