Entertainment behemoth The Walt Disney Company (NYSE: DIS) on Wednesday reported higher revenues and earnings for the third quarter of 2022. The results also topped expectations.
Third-quarter revenues of the Los Angeles-based company advanced to $21.50 billion from $17.02 billion in the same period last year and surpassed experts’ projections.
The strong revenues drove up adjusted earnings from continuing operations to $1.09 per share in the latest quarter from $0.80 per share in the prior-year quarter. Analysts had predicted a slower growth. Unadjusted profit from continuing operations was $1.41 million or $0.77 per share, compared to $923 million or $0.50 per share last year.
Check this space to read management/analysts’ comments on Walt Disney’s Q3 2022 results
“We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter,” said Bob Chapek, CEO of Walt Disney.