Home Business The results of Walt Disney Co. for the 2nd quarter do...

The results of Walt Disney Co. for the 2nd quarter do not catch up, but the stock jumps | WGN Radio 720

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BERBANK, CA (AP) – Walt Disney Co. ahead of Wall Street expectations in the second fiscal quarter, which fell by more than $ 1 billion, which it paid as a fee for early termination of TV shows and movies it wanted to use in its own Disney + streaming service.

The campaign remains in the sights of Republican lawmakers and Florida Gov. Ron DeSantis because of his opposition to a new state law that bans the teaching of sexual orientation and gender identity in kindergarten until third grade. Last month, DeSantis signed a bill to dissolve the private Walt Disney World government, which controls its property in the state in response.

The entertainment giant said Wednesday that in the three months ended April 2, it earned $ 470 million, or 26 cents a share. That’s less than $ 901 million, or 49 cents a share, over the same period a year earlier. Disposable goods included Disney earned $ 1.08 per share in the last quarter.

Revenue rose 23% to $ 19.25 billion from $ 15.61 billion.

According to a FactSet poll, analysts on average expected earnings of $ 1.19 per share on revenue of $ 20.05 billion.

The company said it added 7.9 million Disney + subscribers during the quarter. – and although the service is popular with families, it also attracts subscriptions from people who subscribe not to children’s content, but to common entertainment titles.

Disney shares rose $ 3.68, or 3.5 percent, to $ 108.89 in non-business trading.

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