A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photosurprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office, sending its shares down 6% before the bell on Tuesday.
The direct-to-consumer entertainment division, which includes the Disney+ and Hulu streaming services, reported operating income of $47 million for the January-March period, compared with a loss of $587 million a year earlier. "Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company," Chief Executive Bob Iger, who defeated
He also unveiled a 10-year, $60 billion investment in theme parks and announced plans for a standalone ESPN streaming app, among other efforts. Because of costs to stream cricket, streaming entertainment will likely report a loss for the current quarter but swing back to a profit the following period, Johnston said.
The company's experiences division, which includes the Disney theme parks around the world, reported operating income of $2.3 billion, a 12% increase from a year ago.
Source: News Formal (newsformal.com)
RULES:RESULTS MTPIX BACT BCST BCST1 BIZ CCOS CMPNY CYCS CYCS08 ENT ENTS GEN HOT ITSE ITSE08 MDIA MDIA08 MNGISS NETSV NETSV1 PUB PUBL PXP RES RESF SHOW SHRACT STREAM STX SWIT TECH TECH08 TMT AMERS US NAMER SUSTAINABLE-BUSINESS TOPNWS NEWS1 TOPCMB FIN
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Collider - 🏆 1. / 98 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: BreitbartNews - 🏆 610. / 51 Read more »
Source: FCN2go - 🏆 523. / 51 Read more »
Source: PsychToday - 🏆 714. / 51 Read more »
Source: Collider - 🏆 1. / 98 Read more »