The Walt Disney Company (NYSE: DIS) announced third-quarter 2023 results on Wednesday, reporting an increase in revenues.
The Burbank-headquartered entertainment behemoth said its adjusted profit decreased to $1.03 per share in the June quarter from $1.09 per share a year earlier. On a reported basis, it was a net loss from continuing operations of $460 million or $0.25 per share, compared to a profit of $1.41 billion or $0.77 per share in the prior-year period.
Revenues increased 4% annually to $22.3 billion in the third quarter. Revenues of Disney Parks, Experiences, and Products increased by 13%.
“Our results this quarter are reflective of what we’ve accomplished through the unprecedented transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore creativity to the center of our business,” said Robert Iger, CEO of Walt Disney.