Business | 11th May 2024 Issue

Disney’s Streaming Services Show Positive Growth, While UBS Reports Record Earnings

Disney’s streaming services, Disney+ and Hulu, have shown a marked improvement in operating profit, posting a combined profit of $47m in the latest quarter compared to a loss of $587m in the same quarter last year. The overall loss from streaming, including ESPN, has also narrowed to just $18m. In an attempt to boost business, Disney has announced a new streaming bundle in America that will include programming from Warner Bros Discovery. Despite this positive news, the lack of profitability in the streaming division continues to be a concern for investors.

On the other hand, UBS reported a quarterly net profit of $1.8bn, beating market forecasts and causing its stock to surge by 10%. The Swiss bank attributed its success to soaring revenues in its wealth-management business and investment banking, as well as a reduction in the estimated losses from the toxic parts of the business inherited from Credit Suisse. This positive news from UBS stands in stark contrast to Disney’s share price tumbling nearly 10% after the company lowered growth expectations for the current quarter.

Leave a Reply

Bipartisan Criticism of Biden: United States’ Partners Cannot Trust Us Previous post Political Tensions and Online Presence: The Intersection of Domestic Politics and Creative Expression in the Digital Age
Maersk Announces Suspension of Suez Canal Operations Until Year End Next post Maersk Halts Operations on Red Sea Routes due to Security Concerns and Increased Fuel Costs