Disney (NYSE:DIS) reported its first quarter earnings on Wednesday, showing a profit on its streaming segment while its parks business took a hit from two back-to-back hurricanes, together with greater investment in its cruise ships.

Strong box office performance of animated sequel Moana 2 also added to the strength of its entertainment division.

Disney+ subscribers fell by 700,000 in the quarter because of expected user churn due to price increases in mid-October. Analysts had expected the decline to be 1.41 million.

Disney said it expects another “modest decline” in subscribers to Disney+ compared to Q1.

Revenue for the quarter rose 5% to $24.69 billion, which was a little ahead of analysts prediction of $24.62 billion.

Following the results, shares in Disney rose over 2% in pre-market trading, reaching 116.85, but then fell as investors digested the contents of the report. They have since risen again and are standing at 115.00.

“Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth,” said Disney CEO Bob Iger in a statement.

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