The US entertainment company Disney earned significantly more than expected in the second quarter despite continued weakness in the traditional TV business. The decisive factor was a strong contribution from the theme park segment in the US and a growing streaming business.

Net profit rose to 5.3 billion USD, boosted by a one-time tax benefit of 3.3 billion. Adjusted earnings per share increased year-on-year by 16 percent to 1.61 USD – significantly above market expectations of 1.44 USD.

Particularly the business with theme parks in Florida and California was convincing: The operating profit of this segment increased by 22 percent to 1.7 billion dollars. CFO Hugh Johnston pointed to the customers' willingness to pay: "Our investments in parks and cruises create a strong value proposition – our guests recognize that.

In contrast, revenue from linear television, i.e., traditional channels like ABC, Freeform, and Disney Channel, plummeted by 15 percent to 2.3 billion dollars. The reason is the structural shift towards direct sales models like streaming. "A double-digit decline is no surprise," said Johnston.

However, the streaming business gained momentum: Revenues from services like Disney+ and Hulu rose by 6 percent to 6.2 billion dollars. Operating income climbed to 346 million dollars. Disney+ gained 1.8 million new subscribers in the quarter and reached 128 million users worldwide by the end of June.

In its outlook, Disney slightly raised its profit forecast for the entire year. CEO Bob Iger expressed satisfaction with the "creative and financial development" of the company.

The upcoming streaming launch of ESPN is expected to provide additional momentum: Disney sold a 10-percent stake in the sports brand to the National Football League – a move aimed at deepening the strategic partnership with the league and securing the future streaming service.