Screentime
Disney Defies Streaming Skeptics With Jump in New Customers
- Disney+ service grows to 116 million users in third quarter
- Reopening of parks fuels big rebound in revenue, profit
Walt Disney Co. investors, like its customers, love a good story, and they got one when the entertainment giant reported better-than-expected quarterly results and a surge in streaming customers.
Disney+, the company’s flagship online TV business, grew to 116 million subscribers in the third quarter ended July 3, beating the 113.1 million that analysts expected. With its theme parks back open after the Covid-19 shutdown, Disney said late Thursday earnings rose to 80 cents a share, excluding some items, beating the 55 cents analysts estimated.