Walt Disney Company Revenue Grows Nearly 30% For Q3 of 2022

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Credit: Disney

Today, August 10, marks the day Disney officially reveals its earnings for the third quarter of 2022. According to the report, The Walt Disney Company’s revenues for the quarter and nine months grew 26% and 28%, respectively, an impressive number considering the earnings report for the first quarter of the year already showed record growth for the company.

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Credit: Screenshot via Annual Shareholders Meeting

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“We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.

“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.”

Specific information was revealed in the official document:

  • Revenues for the quarter and nine months grew 26% and 28%, respectively.
  • Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.77 from $0.50 in the prior-year quarter. Excluding certain items(1), diluted EPS for the quarter increased to $1.09 from $0.80 in the prior-year quarter.
  • Diluted EPS from continuing operations for the nine months ended July 2, 2022 increased to $1.66 from $1.02 in the prior-year period. Excluding certain items(1), diluted EPS for the nine months increased to $3.22 from $1.91 in the prior-year period.
Walt Disney Company Logo
Credit: The Walt Disney Company

Last year, the Disney Parks division brought in $6.7 billion in revenue in Q2, compared to last year’s $3.2 billion, making for a $3.5 billion increase. The Walt Disney Company claims that the revenue growth is primarily due to the domestic Parks, with a slight increase in revenue at the international Parks. Check here for our coverage on this quarter’s Parks report.

Does this number surprise you?

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