Disney swings to profit as reopened parks bolster revenue
The Walt Disney Co. swung to a profit in its most recent quarter as reopened parks provided a revenue bounce. Revenue in the parks and products division surged to $4.3 billion from $1.1 billion a year ago, as theme parks closed last year were open for part or all of this year’s quarter. Overall revenue climbed 45% to $17.02 billion, and the company swung to a profit from a loss. Disney ended the quarter with 116 million Disney+ subscribers, about double compared with a year ago, and nearly 174 million streaming subscribers including Disney+, ESPN+ and Hulu.