Shares of The Walt Disney Co. (DIS) rose in premarket trading Wednesday after the entertainment giant reported fiscal 2025 first-quarter results above analysts’ expectations.
Disney posted net income of $2.55 billion, or $1.40 per share, on revenue of $24.69 billion. Analysts had expected $2.38 billion, or $1.31 per share, on revenue of $24.63 billion, per Visible Alpha.
Disney’s Direct-to-Consumer (DTC) business reported an operating profit of $293 million. The unit became profitable in the prior two quarters amid price increases and a crackdown on password sharing, and CEO Bob Iger previously said the company expects the streaming services to “grow nicely” this year.
Disney+ had 124.6 million subscribers in the quarter, down slightly from the 125.3 million the company reported last quarter. Disney also said it expects a “modest decline” in Disney+ subscribers in the second quarter.
Disney shares were up 2% immediately following Wednesday’s report. They entered the day up about 17% over the last 12 months.
