Disney's streaming service is writing black numbers for the first time.
Disney, the majority shareholder, had Hulu entirely in November last year. This also contributed to a significant 15% increase in the quarterly revenue of the Disney+ segment from April to June.
However, operating profits in the theme parks decreased, according to the company, due to high costs resulting from increased inflation and expenses for new technologies.
Overall, Disney reported a profit of $2.6 billion in the April to June quarter. Revenue rose by 3.6% year-over-year to $23.2 billion. For example, the new box office hit "Inside Out" contributed significantly to this, currently the highest-grossing animated film of all time.
Despite Disney's control over Hulu since November last year, the company's theme park operating profits saw a decline due to rising inflation costs and technology expenses. This contrasts the positive impact of Hulu, as its ownership led to a 15% boost in the Disney+ segment's quarterly revenue from April to June.
