The Walt Disney Company reported a profit of $5.26 billion in the third fiscal quarter ending June 28 (approximately €4.53 billion), compared to $2.62 billion a year earlier.
Financial results released today show that Disney’s profit and revenue increased in the third fiscal quarter, primarily due to a rise in subscribers to its streaming service and growth at domestic theme parks.
Revenue from Disney Entertainment, which includes the company’s film studios and streaming service, grew by 1%, while revenue from the Experiences division, which encompasses parks, rose by 8%.
Disney’s direct-to-consumer business, including Disney+ and Hulu, recorded a quarterly operating profit of $346 million, compared to a loss of $19 million the previous year.
The streaming service Disney+ saw no change in the number of paid subscribers in the domestic market, which includes the US and Canada, but registered a 2% increase in the international market, excluding Disney+ HotStar.
The total number of paid Disney+ subscribers reached 128 million, up from 126 million in the second quarter.
Subscriptions for Disney+ and Hulu totaled 183 million, an increase of 2.6 million from the second quarter.
The Experiences division, which includes Disney’s six global theme parks, cruise line, products, and video game licensing, reported a 13% increase in operating revenue to $2.52 billion.
Domestic theme park operating revenue rose 22%, but it fell by 3% in international parks and Experiences.
Disney announced in May that it will build a seventh theme park in Abu Dhabi, the capital of the United Arab Emirates.
