Core Insights - The core viewpoint of the article highlights Disney's financial performance for Q3 of FY2025, showcasing a revenue increase and significant profit growth despite challenges in traditional television and sports revenue [2][4]. Financial Performance - Disney reported a revenue increase of 2.1% year-on-year to $23.65 billion for Q3 FY2025 [2]. - Net profit attributable to shareholders reached approximately $5.262 billion, marking a 100.76% year-on-year increase [2]. - Earnings per share (EPS), excluding certain items, rose to $1.61, surpassing market expectations of $1.46 [2]. Segment Performance - The entertainment segment generated approximately $10.704 billion in revenue, a 1% increase year-on-year [2]. - The experiences segment, which includes theme parks, reported revenue of about $9.086 billion, reflecting an 8% year-on-year growth [2]. - The theme park division's profit grew by 13% to $2.52 billion during the quarter [2]. - Streaming services achieved a profit of $346 million for the quarter [2]. Challenges in Traditional Media - Revenue from the sports segment was approximately $4.308 billion, showing a 5% decline year-on-year [2]. - Traditional television networks and sports revenue fell short of Wall Street expectations, overshadowing the strong performance of theme parks and streaming [2][3]. - Traditional entertainment television profits decreased by 28%, and Disney Studios reported a loss [2]. Streaming Business Insights - The shift in consumer preference from traditional entertainment to streaming is evident, with Disney's streaming business expected to be a future focus [4]. - Disney owns several entertainment and media brands, including ESPN, ABC, Marvel, Disney+, and Hulu, enhancing its competitive edge in streaming [4]. - As of the reporting period, Disney+ had approximately 57.8 million paid subscribers in the U.S. and Canada, remaining stable, while international subscribers reached about 69.9 million, a 2% year-on-year increase [4]. - Hulu's total subscription count was approximately 55.5 million, reflecting a 1% quarter-on-quarter growth [4]. - Disney forecasts an annual EPS of $5.85, higher than the previous estimate of $5.75 [4].

本文字数：1115，阅读时长大约3分钟 作者 | 第一财经 乐琰 美国当地时间8月6日，华特迪士尼公司（下称"迪士尼"，DIS. NYSE）发布截至2025年6月28日的2025财年第三季度业绩报告，期内收入同比增长 2.1%至236.5亿美元。归母净利润约52.62亿美元，同比增长100.76%。扣除部分项目后的每股收益升至1.61美元，超过市场预期的1.46美元。 具体来看，报告期内迪士尼娱乐板块收入约107.04亿美元，同比增长1%；体验板块收入约90.86亿美元，同比增长8%；主题公园部门当季盈利增长 13%至25.2亿美元。流媒体业务当季盈利3.46亿美元。 然而，传统电视网络和体育节目的收入未能达到华尔街的预期，掩盖了该公司主题公园和流媒体业务的强劲表现。报告期内，体育板块收入约43.08亿 美元，同比减少5%；传统电视网络和体育节目的收入未达预期；传统娱乐电视盈利下降28%；迪士尼影业亏损。 2025.08. 07 "主题公园作为体验式板块中极为重要的一部分，这几年发展势头不错，迪士尼此前就启动了数百亿美元的全球主题乐园扩建计划，包括美国、日本和 中国的主题乐园都有涉及。这也足见乐园业务对迪士尼 ...