DIS - Disney Is Ready to Win This Summer
2024-06-17 11:30:00 ET
Summer is officially just a couple of days away, but Walt Disney (NYSE: DIS) is already showing off its beach bod, financially speaking. The media giant is already in a much better place than it was a year ago. Disney+ is finally turning profitable, compared to the $587 million operating loss that segment posted in the prior-year quarter. There was softness heading into last year's seasonally potent travel season at Disney World, as the massive Florida resort had just completed an 18-month celebration of the property turning 50. The year-over-year comparisons should be kinder this time around.
Then we get to what happened over the weekend, as Disney buried the narrative that its theatrical animation studio was dying if not dead. Inside Out 2 opened to a better-than-expected showing at the multiplex. It generated $155 million in domestic ticket sales, well ahead of the $90 million industry watchers were forecasting. Throw in another $140 million in box office receipts for international screenings, and the Pixar sequel has raked in $295 million in total ticket sales.
Inside Out 2 's strong start is impressive. There's only one other animated feature with a stronger opening, Incredibles 2 with $183 million for its 2018 stateside debut. Putting things in a different perspective, Inside Out 2 almost topped Barbie 's head-turning premiere weekend of $162 million last year.
For further details see:
Disney Is Ready to Win This Summer