Entertainment giant The Walt Disney Company announced some on Wednesday. $2,550 million benefits (EUR 2,321 million) in the first half of its fiscal year, 62% more every year. Disney, which is in the midst of restructuring to increase the profitability of its media business and has recently laid off thousands of people, 45.327 million billed in the six months ended April, 10% more, according to a statement. In the second and last quarter, the company’s turnover increased by 13%, becoming one of the lowest growth figures in recent years, with a profit of 1 billion 271 million, almost tripling over the same period of the previous year.
Late last year, the company pulled its current CEO, veteran Bob Iger, out of retirement to address the situation, and has since announced changes in the breakdown of business segments and 7,000 layoffs. Iger was pleased with the results and said this Wednesday that the listening segment’s finances improved, bringing its quarterly revenue to 5,514 million (12% more) and operating losses down 26% to 659 million. However, there was an overall decrease in subscribers as the main platform Disney+ lost 4 million subscribers to 157.8 million and Hulu and ESPN+ posted slight increases at 48.2 million and 25.3 million subscribers.
The Disney Amusement Parks and Fiction Products segment generated lower revenue than the Media segment, but posted higher growth and also posted higher operating profit growth.
The figures announced at the closing of the stock market, was below expectations from analysts and stocks fell about 5% in electronic commerce. The company has gained 16% since the beginning of 2023.