Disney Tops Profit Estimates, Seeks Extra $2 Billion in Cost Savings
- CEO Iger is seeking $2 billion more in expense reductions
- Theme parks, narrower streaming losses contribute to gain
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Walt Disney Co. shares jumped after the company reported a better-than-expected profit and vowed to cut $2 billion more in expenses.
Fiscal fourth-quarter earnings rose to 82 cents a share, excluding some items, Disney said Wednesday, exceeding analysts’ 69-cent projection. Revenue was roughly in line with expectations.