Disney's financial results for its fourth quarter came in higher than initially expected this year, with the company reporting adjusted earnings per share of $1.07. That's an increase from analysts' previous estimates of 95 cents.
According to Deadline, revenue is also being reported at higher rates than initial forecasted, with the company earning $19.1 billion in total revenue against the estimated $19.04 billion. A large part of the massive revenue total comes from Disney's studio division, which, thanks to big hits like The Lion King live-action remake, has helped the studio rake in buckets of cash.
Not every division can be counted as a success, though. The Parks and Resorts side of Disney saw only an 8% increase in revenue, which Disney was hoping would be much higher thanks to the opening of its flashy Star Wars: Galaxy's Edge attraction.
Direct-to-Consumer & International, which is the division that houses the streaming initiatives, saw the most promising growth. Thanks to moves like the consolidation of Hulu, which Disney owns a majority stake in, revenue for the division saw a substantial increase, growing from $800 million to $3.4 billion.
And with the official launch of Disney+ just days away, all eyes will be on the streaming division as it officially enters the streaming war against Netflix and Amazon. However, it's not the only one. With NBCUniversal, WarnerMedia and Apple all trying their hand at new streaming services, only time will tell if Disney has what it takes to come out on top and keep making a tremendous amount of money in the process.
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