The Walt Disney Company announced on Tuesday that its revenue in the second quarter of its fiscal 2024 stood at $22.08 billion, climbing by 1% from the same period a year ago.
Meanwhile, diluted loss per share in the three months ending March 31 stood at $0.01 compared to the $0.69 earnings per share reported in the same timeframe of 2023. In the second trimester, net loss attributable to the company landed at $20 million compared to the $1.27 billion posted in the second quarter of 2023. Meanwhile, Disney+ Core subscribers rose by more than 6 million in the reported quarter.
"Our results were driven in large part by our Experiences segment as well as our streaming business. Importantly, entertainment streaming was profitable for the quarter, and we remain on track to achieve profitability in our combined streaming businesses in Q4," CEO Robert Iger commented. Disney's shares dropped 5.46% in the premarket trading following the release of the report.
