Disney's Third-Quarter Profit Growth Driven by Parks, Streaming

Summary

Bloomberg Intelligence's Geetha Ranganathan discusses Disney's fiscal Q3 earnings beat, highlighting strong performance in theme parks and streaming. Parks profit rose 20% versus 10.5% expected, easing consumer slowdown fears, while streaming reached a 13% operating margin. A new TikTok partnership was described as both offensive and defensive.

• Disney beat fiscal Q3 earnings estimates
• Parks profit rose 20% vs consensus 10.5% on strong attendance and per capita spending
• Streaming operating margin reached 13%, showing progress toward profitability
• Results allayed investor concerns about consumer softness impacting parks
• A TikTok partnership was announced, seen as both offense and defense in streaming competition
• The company outperformed despite negative commentary from other park operators like Comcast