Disney posts solid Q1 results thanks to its theme parks and cost cuts

Published February 7, 2024 4:06 PM

By BARBARA ORTUTAY
AP Technology Writer

SAN FRANCISCO (AP) — Disney has reported stronger-than-expected earnings in the final three months of 2023. The results for its fiscal quarter were boosted by cost cuts and growing revenue from its theme-parks business. The Walt Disney Co. earned $1.91 billion, or $1.04 per share, in the fiscal first quarter. That’s up 49% from $1.28 billion, or 70 cents per share, in the same period a year earlier. Excluding one-time accounting items, the company earned $1.22 per share in the latest quarter. Revenue was $23.55 billion, roughly the same as last year’s $23.51 billion. Analysts, on average, were expecting earnings of 99 cents per share on revenue of $23.71 billion.

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