Walt Disney Co. reported better-than-expected earnings for its fiscal first quarter and issued an upbeat profit outlook for the year, citing cost-cutting benefits and the strong performance of its international theme parks.
Disney CEO Bob Iger says they would like to stay in the India market and are considering their options, amidst deal talks over its Disney Star business.
Disney reports quarterly revenue of $21.2 billion, up from last year. Even with subscriber growth, streaming suffers $387 million loss. Cuts costs by $7.5 billion.
Disney’s strong quarterly results ease pressure on the company to take more drastic measures to improve its bottom line, such as fully offloading ESPN, according to analysts.