Disney's profits increase by 49% in the first quarter

Disney announced on Wednesday that it will invest $1,500 million (€1,392 million at today's exchange rate) to acquire part of the shares of Epic Games, the brand that created “Fortnite,” one of the most popular video games in the world. With 100 million monthly users.

Entertainment giant Walt Disney This was announced Wednesday It generated $1,911 million (about €1,773 million) in the first fiscal quarter, up 49% year-on-year. Exceeding Wall Street expectations.

Between October and December, the American company had Turnover 23,549 million, slight 0.16% more than in the same section of the previous year; Most of its income came from the entertainment department, Which includes all of the company's broadcast and media operations.

In this way, this business generated $9,981 million, 7% less year-on-year, while its revenues Sports channel, ESPNIt achieved $4.835 million, an increase of 4% compared to the same period of the previous year.

from their side, expertise The company's offerings (which include its theme parks, hotels, cruise lines, and products) achieved $9,132 million, 7% more Compared to the first quarter of 2023.

This is the second quarter that Walt Disney has used the new financial reporting structure in its resultsThe company is divided into three divisions: entertainment, sports and experiences, according to Effie.

Regarding ParticipantsNumber of subscribers to the streaming platform Disney+ has been reduced by 1.3 million Compared to the previous quarter, this is in line with the increase in price rates during the quarter, as the company explained in a statement.

In contrast, subscribers to Holo – another streaming service – rose by 1.2 million compared to the first quarter of the previous year.

“We have entered a new era for our company, focusing on… ESPN promotion For the future, Transforming streaming into a profitable and growing business, revitalizing our film studios and accelerating the growth of our parks and experiencesDisney's chief executive said, bob Iger, In the statement.

Walt Disney's good results come in the middle of his career Confrontation with various stakeholderswhich has It presented its candidates for a seat on the company’s board of directors, under the pretext of the need to change the direction of its administrative board.

Minutes after the results were announced, the company announced the arrival of the massive concert tour film on Disney+ Taylor Swift, “Tour of the Ages” Which will be broadcast only on this platform starting March 15.

Epic Games

Likewise, Disney announced that iIt will invest $1,500 million (€1,392 million at today's exchange rate) to acquire part of Epic Games' shares.the brand you created 'Fortnite'one of the most popular video games in the world with 100 million monthly users.

The investment was announced by Iger in an interview with the CNBC business channel after the results were announced. Investing in Epic Games “is probably our goal The greatest hack ever made in the world of video gamessaid Iger, who did not specify the value of Epic Games, a company that does not operate on Wall Street.

Iger said this investment “is not only timely, but represents a great opportunity An important step when considering demographic trends about how generations Alpha, Z, and even Millennials spend their time“The executive said.

Epic Games recently signed collaboration agreements for “Fortnite” game or content with other entertainment giants such as Lego and Harmonix.