The Walt Disney Company announced a net profit of $4.972 billion for its fiscal year 2024, a 111% increase from the previous year, driven by its film division and streaming service. According to a statement, revenue was $91.361 billion for the twelve months ended September 28, a 3% year-over-year increase.
Segment revenues also showed growth compared to the previous year. Entertainment generated $41.186 billion, a 1% increase, while sports reached $17.619 billion, a 3% increase. On the other hand, the experiences segment declined by 5%, totaling $34.151 billion.
In the fourth quarter of the year, Walt Disney reported a net profit of $460 million, a 74% increase compared to the same period last year, with revenue of $22.574 billion, a 6% year-over-year increase. This strong performance is attributed to the box office success of films like 'Deadpool & Wolverine' and 'Inside Out 2', which generated $316 million in earnings for the content sales segment.
Bob Iger, CEO of Disney, highlighted the company’s performance in the fourth quarter, emphasizing the improvement in the profitability of its streaming businesses, the acquisition of 60 Emmy awards, and the success of live sports events. The Disney+ streaming platform gained 4.4 million subscribers in the fourth quarter, reaching a total of 174 million.
The direct-to-consumer services division accumulated losses of $134 million for the year, a 94% reduction compared to the previous period. For the fiscal year 2025, it is expected that earnings per share will grow in the single digits, with a potential revenue decline of $130 million in the experiences division due to the impacts of hurricanes Milton and Helene.
Disney is undergoing an internal restructuring process, as CEO Bob Iger plans to appoint a successor in early 2026. The financial results, which exceeded analysts' expectations, boosted Disney's shares by 6% after the close of Wall Street.
