Disney Tops Q3 Earnings, Invests Heavily in Parks and Resorts Amid Regulatory Fights
The Walt Disney Company reported strong revenue and profit growth in its Q3 earnings, with revenue reaching $25.2 billion (+7%) and operating income hitting $5.6 billion (+21%). The company's adjusted EPS came in at $2.06.
Disney's streaming segment saw significant gains, with operating income more than doubling. The company also announced a boost to its buyback target, increasing it to ≥$9 billion.
The company is investing heavily in its parks and resorts, including the overhaul of Tomorrowland at Disneyland and the return of classic attractions such as Dreamfinder and Figment to EPCOT.
However, Disney's sports rights exposure has been impacted by its loss of U.S. broadcast rights for Formula One. The company had held these rights since 2007.