Citing strong performance by its theme parks and the success of “Toy Story 5” at the box office, the Burbank-based Walt Disney Co. Wednesday reported generally strong third-quarter earnings Wednesday.
The company reported earnings per share of $2.06 for the third quarter, up from $1.61 during the same quarter the prior year. Third-quarter revenue came in at $25.2 billion, an increase from 23.7 billion a year ago.
“During my first five months as CEO, I’ve been focused on ensuring that we execute as one company around a unified strategy,” Disney CEO Josh D’Amaro told investors Wednesday. “And what we’re seeing this quarter is proof that coordinating our franchises, sharing data and technology, and building seamless fan experiences works.”
He pointed directly at the box office success of “Toy Story 5,” noting that the overall “Toy Story” film franchise has earned more than $4 billion globally and more than 2 billion streaming hours on Disney+, along with more than $1 billion in annual merchandise retail sales.
“At our studios, the blockbuster success of the latest `Toy Story’ installment shows exactly why Disney is different from the competition, and how our stories translate into recurring earnings power,” he said. “… One powerful and enduring story, told across theaters, streaming, retail and physical experiences. That integration creates a structure no one else has been able to replicate.”
Disney reported $11.35 billion in revenue for its entertainment segment, a 6% jump from the prior-year third quarter. The company’s experiences segment, which includes its theme parks, saw revenue of nearly $10 billion, up 10% from the prior year.