Walt Disney (NYSE: $DIS (-0,32 %)) has been buoyed by a strong streaming business and the success of the animated film Moana 2 at the start of the new financial year exceeded market expectations. As the figures from the Burbank-based company show, both sales and profits rose significantly more than expected in the first quarter of the year. Nevertheless, there was criticism on the stock market that Disney had not adjusted its forecasts, which led to a fall in the share price in pre-market trading.
In the period up to the end of December, Disney's turnover rose by 5 percent to 24.7 billion US dollars (approx. 23.9 billion euros) compared to the same period in the previous year. Adjusted operating profit increased by almost a third and reached 5.1 billion dollars. The profit was particularly positive for shareholders: At just under 2.6 billion dollars, it fell even more sharply than the operating profit.
Disney CEO Bob Iger was satisfied with the results and described the quarter as a "strong start" to the new financial year. The success of the streaming business, which continues to act as a growth driver, was particularly emphasized. The animated film Moana 2which enjoyed great success in cinemas, also made a significant contribution to the good figures.
However, other business areas, such as the TV business and theme park operations, performed less well. These sectors, which were among Disney's major revenue drivers in the past, were not quite able to keep pace with expectations and slowed down the company's overall performance somewhat.
Despite the positive quarterly figures, the company's forecast remained unchanged, which raised concerns among investors and analysts. They had hoped for an increase in the outlook, particularly in view of the continued strong growth in the streaming segment. As a result, Disney's shares fell in pre-market trading, reflecting the initial disappointment.
Despite this short-term reaction, Bob Iger remains confident about the company's long-term growth strategy. Disney will continue to focus on strengthening its existing businesses and expanding in the streaming market to continue its growth in the coming quarters.