The Walt Disney Company reported an increase in profits. The share price on August 12, 2021, increased by almost 6%. The positive reaction of the market is also associated with the publication of a quarterly report with good financial performance.
In 3 months, the company increased its revenue to $17 billion, which is 45% higher than last year. Disney’s profit growth is due to the increase in attendance in the post-pandemic period. This is evidenced by the increase in theme park revenues, which exceeded $4.3 billion for the first time in the last 5 quarters. The entertainment company’s net profit exceeded $920 million.
“We remain optimistic about the growth of our parks business,” said Disney CEO Bob Chapek.
The Disney+ streaming service also exceeded the expectations of specialists, attracting about 116 million users in the second quarter of 2021. Analysts predicted no more than 114.5 million customers.