LOS ANGELES, May 7 (Xinhua) -- The Walt Disney Company on Tuesday announced a strong performance for the second quarter of fiscal 2024.
Revenues for the quarter, ended March 30, 2024, increased to 22.1 billion U.S. dollars from 21.8 billion dollars in the prior-year quarter. Excluding certain items, diluted earnings per share (EPS) for the quarter increased to 1.21 dollars from 0.93 dollars in the prior-year quarter, according to the company.
"In the second fiscal quarter of 2024, we achieved strong double digit percentage growth in adjusted EPS, and met or exceeded our financial guidance for the quarter," said the U.S. entertainment giant in its latest earnings report, adding that "As a result of outperformance in the second quarter, our new full year adjusted EPS growth target is now 25 percent."
Robert A. Iger, the company's chief executive officer, said in the earnings report that the company's strong performance in the quarter, with adjusted EPS up 30 percent compared to the prior year, "demonstrates we are delivering on our strategic priorities and building for the future."
"Our results were driven in large part by our Experiences segment as well as our streaming business. Importantly, entertainment streaming was profitable for the quarter, and we remain on track to achieve profitability in our combined streaming businesses in Q4," he added.
The company stated its entertainment streaming segment turned profitable in the quarter and its experiences business was also a growth driver in the quarter, with revenue growth of 10 percent and segment operating income growth of 12 percent. ■