NEW YORK (AP) 鈥� Disney easily topped first-quarter expectations thanks in part to the box office success of 鈥淢oana 2.鈥�
The Walt Disney Co. earned $2.55 billion, or $1.40 per share, for the period ended Dec. 28. The Burbank, California-based company earned $1.91 billion, or $1.04 per share, in the prior-year period.
Stripping out certain items, earnings were $1.76 per share. This topped the $1.44 per share that analysts surveyed by Zacks Investment Research anticipated.
Revenue rose 5% to $24.69 billion, surpassing Wall Street鈥檚 estimate of $24.66 billion.
The Disney+ streaming service had a 1% increase in paid subscribers domestically, which includes the U.S. and Canada. But there was a 2% drop internationally, which excludes Disney+ HotStar. Total paid subscribers for Disney+ dipped 1% in the quarter.
Looking ahead, Disney said that it foresees a modest decline in Disney+ subscribers in the second quarter when compared with the first quarter. The company still anticipates high-single digit adjusted earnings per share growth for .
The Experiences division, which includes six global theme parks, its cruise line, merchandise and videogame licensing, reported operating income was basically flat at $3.11 billion. Operating income fell 5% at domestic parks, as hurricanes caused Walt Disney World to close for a day and canceled a cruise. Operating income rose 28% for international parks and Experiences.
Michelle Chapman, The Associated Press
