Disney Reports Earnings Surge Fueled by 'Moana 2'

Walt Disney Co. reported strong fiscal first-quarter results, exceeding Wall Street expectations, largely thanks to the blockbuster success of 'Moana 2,' which earned over $1 billion globally. The company achieved a 5% revenue increase to $24.69 billion, with adjusted earnings per share rising 44% to $1.76. Despite challenges at its domestic theme parks due to hurricanes, Disney's streaming business, including Disney+ and Hulu, also turned a profit for the second consecutive quarter, generating $6.07 billion in revenue. The entertainment segment's operating income surged nearly 95% to $1.7 billion, bolstered by a 34% rise in content sales and licensing. CEO Bob Iger expressed confidence in the company's strategic initiatives, forecasting continued earnings growth for fiscal 2025. Overall, Disney's results reflect a successful start to the fiscal year amidst a recovering entertainment landscape.