2024-02-08 17:34:38
“I was blown away to discover that young people spent as much time watching films and series as watching games,” explains Bob Iger, CEO of Disney. Image Press Agency/Sipa USA via Reuters Connect
DECRYPTION – The entertainment giant reported strong results and will invest $1.5 billion in Epic Games. The creator of the game Fortnite will build an online “Disney World”.
Bob Iger has earned some relief. Disney has “ francs a cap » according to its CEO, and it is beginning a new era. Under pressure from several activist funds, the Burbank firm announced better than expected financial results in the first quarter of its delayed fiscal year. Despite stagnant revenue at $23.5 billion for the October-December period, it posted net profit of $2.15 billion, well above expectations and up 58% year-on-year. year. Proof that the austerity cure started last year is starting to have its effects. The stock market applauded with a 12.5% increase in shares at the opening of Wall Street.
Disney achieved $500 million in savings in the first quarter and said it is on track to meet or exceed the $7.5 billion savings target by the end of fiscal 2024. Other good news, the streaming business has recovered considerably. The losses of all platforms…
This article is reserved for subscribers. You have 81% left to discover.
Flash sale
-70% on digital subscription
Already subscribed? Log in
#Faced #activists #Disney #plays #Fortnite #Taylor #Swift #card