Disney Exceeds Expectations in Quarterly Results and Stock Soars 5%

The Walt Disney Company has registered a huge surge in revenues, backed by higher sales as more people return to visit the famous theme park and the number of subscriptions to its streaming services growing steadily.

Disney reported its best sales and profit since the onset of the coronavirus pandemic, with its latest quarterly net income at $918 million, after revenues increased to $17.02 billion from $11.78 billion last year.

Disney+ has exceeded 100 million subscribers, while the return of visitors to the theme park, Disney Land, led to increased sales of visits and related products of $4.34 billion, compared with $1.07 billion last year.

TV networks, led by ABC and ESPN, recorded the highest sales of nearly $7 billion.

Accordingly, the Disney stock has surged by more than 5% to $188.55.