Walt Disney benefits from recovery in the advertising market
Walt Disney exceeded market expectations in the first quarter thanks to a recovery in the advertising market. The US entertainment group once again benefited from its strong television business around Christmas.
According to SDA, turnover in the first quarter of the financial year, which ended at the beginning of January, rose by 1% to 9.7 billion dollars compared to the same period last year. The bottom line profit stagnated at 844 million dollars. It was burdened by the costs of restructuring the Group. In addition, investments generated less money.
Advertising revenues had increased significantly, said CFO Ray Rasulo on Tuesday after the close of the US stock exchange in Burbank, California. Cinema films also met the public's taste. The film studios emerged from the red figures into which they had slipped in the summer.
Advertising revenues had increased significantly, said CFO Ray Rasulo on Tuesday after the close of the US stock exchange in Burbank, California. Cinema films also met the public's taste. The film studios emerged from the red figures into which they had slipped in the summer.
