Disney's Streaming Success and Strategic Sports Partnerships Propel Growth

Walt Disney surpasses quarterly expectations and raises its annual profit forecast, driven by a burgeoning streaming business. Strengthening its sports sector, Disney announced major deals with the NFL and WWE, alongside a new ESPN streaming service. Growing subscriptions and park expansions further buoy company profits and future outlook.

Walt Disney has exceeded market expectations with its latest quarterly results, buoyed by significant growth in its streaming sector. The company reported a 16% rise in adjusted earnings per share to $1.61 for the fiscal third quarter, surpassing analyst predictions of $1.47.

Strengthening its sports media portfolio, Disney has entered major agreements with the National Football League and WWE. Disney is launching a new ESPN streaming service on August 21, offering access to significant sporting events and involving a 10% equity arrangement with the NFL.

As traditional TV declines, Disney's expanding streaming offerings, park expansions, and future growth prospects underscore a strategic shift. Parks reported a 13% increase in operating income, and streaming subscriptions have grown by 2.6 million, reflecting the company's innovative strategies and robust performance.

(With inputs from agencies.)