Disney (DIS) reported that fiscal third-quarter earnings beat expectations on Wednesday, driven by the continued strength of its domestic park business and the continued strength of its streaming division's profitability. Income roughly matches the forecast.
The direct-to-consumer segment made a profit of $346 million, compared with a loss of $19 million a year ago. The company continues to prioritize consistent profitability in a continuous shift from traditional pay TV. Disney's streaming profit for fiscal 2025 was approximately $875 million.
The company raised its full-year profit forecast to $5.85 per share, above the $5.75 forecast and ahead of Wall Street's forecast of $5.77.
Before the earnings update, Disney also confirmed previous reports that ESPN had reached a preliminary deal to acquire key NFL media assets including NFL Network, NFL Redzone and NFL Fantasy in exchange for a 10% stake in the network.
With the sharp decline in linear TV business, the strength of parks and streaming has been eclipsed.
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