Disney’s “Inside Out 2” has been a huge hit, helping the company make more money recently, but other parts of the business are facing problems. According to BBC, Disney saw profits rise in the three months to June, with the Pixar sequel becoming the top-grossing animated movie ever. The company also reported its streaming service was profitable for the first time.
However, Disney’s theme parks made less money than expected. Analysts believe the Paris Olympics and a drop in consumer spending contributed to the lower earnings from its parks. Disney anticipates this trend may continue for the rest of the year, with fewer visitors to its US parks.
Media analyst Ben Barringer noted that Disney’s mixed results add to concerns about the slowing American economy, causing unease in global stock markets. Despite these challenges, Disney’s recent success with “Deadpool & Wolverine” – which had a record-breaking opening – suggests that the company could still find success.
Analyst Robert Fishman from Moffett Nathanson pointed out that Disney’s recent achievements with blockbuster films might signal a positive shift, but it’s too early to tell if this will lead to consistent success. Meanwhile, Disney’s streaming service is doing well in the US and Canada, but its performance in India has declined by 6% from last year.
Credit : BBC
https://www.bbc.com/news/articles/c049p51qkd0o