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Walt Disney Company (DIS-1.68%) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $24.7 billion from $23.5 billion in the same quarter the previous year. This increase was driven by higher subscription and theatrical distribution revenues.
Cost of services for the quarter decreased to $13.8 billion from $13.9 billion in the previous year, attributed to lower sports programming and production costs.
The company reported a net income of $2.6 billion for the quarter, up from $2.1 billion in the previous year. This increase was primarily due to higher operating income at the Entertainment segment.
Disney's earnings per share (EPS) increased to $1.40 from $1.04 in the previous year, reflecting improved results at Content Sales/Licensing and Other and Direct-to-Consumer segments.
Operating income for the Entertainment segment increased to $1.7 billion from $874 million, driven by higher subscription revenue and improved Direct-to-Consumer results.
The Sports segment reported an operating income of $247 million, compared to a loss of $103 million in the previous year, due to improved results at international ESPN and the absence of ICC Cricket World Cup programming costs.
Experiences segment revenues rose to $9.4 billion from $9.1 billion, with operating income remaining stable at $3.1 billion, reflecting higher revenues from international parks and experiences.
Corporate and unallocated shared expenses increased to $460 million from $308 million, primarily due to a legal settlement.
Cash provided by operations increased to $3.2 billion from $2.2 billion, driven by lower tax payments and higher cash receipts from increased revenue.
Investments in parks, resorts, and other property increased to $2.5 billion from $1.3 billion, reflecting higher spending on cruise ship fleet expansion and new guest offerings at theme parks.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Walt Disney Company quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.