The operating profit in Disney streaming activities jumped during the first three months of 2025, because Disney + unexpectedly added 1.4 million subscribers during the quarter. Despite the collection of clouds of economic storms, chef Bob Iger said that the mouse house remains “optimistic” as to his directives being exercised.
Overall, the company declared 23.62 billion dollars in revenues, up 7%, for the closed quarter on March 29 (Disney’s fiscal 2,2025). Disney posted net profit of $ 3.28 billion against a net loss of $ 20 million in the previous period, which resulted in a profit adjusted per share of $ 1.41 (up 20%). The results – fueled by higher streaming profit, national themed parks and home video sales of “Moana 2” – have easily exceeded Wall Street expectations.
For financial year 2025, Disney expects a profit adjusted per share of $ 5.75, which would increase by 16% from one year to the next. Congomotic of the media provides for a cash expected by operations of $ 17 billion (compared to $ 14 billion during the year 2024), up 2 billion dollars compared to the previous directives drawn by a transfer of tax payment. Disney also expects a two -figure increase in operating income for its entertainment and sports segments, and growth of 6% to 8% of operating income for its theme park and consumer products.
Despite this, Disney warned by announcing income: “We continue to monitor macroeconomic developments for potential impacts on our activities and recognize that uncertainty remains concerning the operating environment for the balance of the exercise”, which ends at the end of September 2025.
Iger, in the prepared remarks, sounded an optimistic note. “Overall, we remain optimistic about the management of the company and our prospects for the rest of the exercise,” he said.
“Our exceptional performance this quarter – with an adjusted BPA of 20% compared to the previous year driven by our entertainment and experience companies – underlines our continuous success for the growth and execution of our strategic priorities,” said Iger. “After an excellent first half of the exercise, we have much more to hope, including our next theatrical slate, the launch of the new ESPN DTC offer and an unprecedented number of current expansion projects in our experience segment.”
In addition to the announcement of the results, Disney has announced its intention to open a new theme park in Abu Dhabi, its seventh theme park. The company has not provided a calendar for the target construction or opening date of the new park.
Investors will be impatient to hear additional comments from Iger and other leaders on how Disney expects to be assigned by the aggressive world tariffs of President Trump – including his wave threatens to impose a 100% levy on films produced abroad – and the company’s strategy in the face of an economic slowdown.
For the quarter, Wall Street analysts were waiting on average an expected turnover of $ 23.14 billion and a profit adjusted per share of $ 1.20, according to LSEG Data & Analytics.
Disney previously declared to the street that he provided for a “modest decrease” of Total Disney + subscribers for the March quarter, and analysts had planned that Disney + submarines decreased by 1.1 million, by Streetaccount. Instead, the service has won 1.4 million – including 1 million in the United States and Canada – to end the quarter at 126.0 million. The company has attributed the growth of Disney + subscribers to a slate of solid content which included the addition of blockbuster “Moana 2” as well as “Mufasa: The Lion King”, as well as the beginnings of the original series “Daredevil: Born Again”, which attracted 7.5 million views in the first five days of release.
The company guides a “modest increase” of Disney + SUBS for the quarter of June 2025.
In addition, Hulu submarines increased by 1.1 million, reaching 54.7 million during the quarter. In his deposited at 10 q with the SEC, Disney said that he expects Hulu’s “final value of equity” in its extraction agreement to redeem a third party in the flow which will be determined at the end of the tax Q3 (ending in June). As Disney revealed previously, according to the evaluation evaluated by a third assessor, he may have to pay comcast up to $ 5 billion for Hulu participation (in addition to the $ 8.6 billion he paid last year).
The total turnover of Disney + and Hulu increased by 8%, to $ 6.12 billion, partly by higher retail prices, and operating income increased by more than seven, to $ 336 million.
Disney’s national linear linear television activity, which includes ABC, has seen income drop by $ 2.2 billion while operating income increased by $ 625 million. Improving profitability was due to a reduction in marketing and programming costs in Disney cable networks due to “fewer new shows” as well as reduced technological costs, the company said. Interior television advertising revenues fell during the quarter due to “lower rates and less prints attributable to an average audience”. Affiliation revenues for the quarter were stable, higher rates compensating for a drop in subscribers.
In ESPN, revenues increased by 5%to $ 4.53 billion, while operating income dropped by 16%, which the company allocated to the costs associated with the dissemination of three additional college football playoffs and an additional NFL match. In addition, the profitability of the Disney sports segment was injured by a radiation from the exit of the Sports Contuse of Venu. ESPN national advertising revenues increased by 29% from one year to the next for the period. Subscribers paid in ESPN + decreased by 800,000 to 24.1 million.
Content sales / other Disney activities in the entertainment segment took place at an operating profit of $ 153 million (against a loss of $ 18 million a year ago), turnover jumped 54%, to 2.15 billion dollars. The company said that theatrical distribution revenues were stable, with the performance “Report” of “Moana 2” and “Lion King: Mufasa” of the last quarter of 2024 compensated by relatively disappointing results of “Snow White” and “Captain America: Brave New World”. The unit has made sales of television and episodic streaming content and higher home entertainment income thanks to “Moana 2”.
Income increased by 6% to 8.89 billion dollars in the Disney experience segment, which includes theme parks, cruises, seaside resorts and consumer products. The total operating profit of the segment increased by 9%, to 2.49 billion dollars, with a growth of 13% of interior parks and experiences and an increase of 14% for consumer products compensating for a 23% drop in international theme parks.
During the quarter, Disney won a charge of $ 109 million for “content disorders” not specified.
(In the photo above: Charlie Cox in Disney + Original series “Daredevil: Born Again”)
