Bob Igera gained some respite.
Disney has “
turned a corner
” according to its CEO, and it is beginning a new era.
Under pressure from several activist funds, the Burbank firm announced better than expected financial results in the first quarter of its delayed fiscal year.
Despite stagnant revenue at $23.5 billion for the October-December period, it posted net profit of $2.15 billion, well above expectations and up 58% year-on-year. year.
Proof that the austerity cure started last year is starting to have its effects.
Disney achieved $500 million in savings in the first quarter and said it is on track to meet or exceed the $7.5 billion savings target by the end of fiscal 2024. Other good news, the streaming business has recovered considerably.
The losses of all the group's platforms (Disney+, Hulu, ESPN+, etc.) were reduced to 216 million dollars...
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