Heard on the Street: Strong financial results are a ray of good news for Disney as the entertainment giant grapples with a culture war
, with that market leader now around 222 million subscribers globally. But on Wednesday, Disney stuck to its plan to exceed that number for the Disney+ service by the end of its 2024 fiscal year.
Getting there won’t be a straight line, though. Chief Financial Officer Christine McCarthy said during Wednesday evening’s call that the company still expects subscriber additions in the second half of the year to exceed the number added in the first half, but she suggested the difference won’t be as high given the strength of recent additions. The company also warned that closures of its theme parks in Asia because of Covid-19 outbreaks could dent operating income in the third quarter.
Disney’s much larger domestic theme-park business was the real bright spot, with operating profit of nearly $1.4 billion—close to prepandemic levels and beating Wall Street’s forecasts by 18%. But that business also has now put Disney square
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