Disney would report a jump in profits just weeks after boss Bob Iger won the boardroom battle with Nelson Peltz
Money maker: In February, Disney+ added a film from the Taylor Swift Eras Tour
Disney is expected to report a jump in profits just weeks after CEO Bob Iger won a boardroom showdown with billionaire investor Nelson Peltz.
City and Wall Street experts predict the company will post a profit of around £3.6 billion in the six months to March, partly thanks to a cost-cutting programme. This would be the best performance in six years.
Long-serving boss Iger, 73, left in 2020 but returned less than a year later after Disney’s profits – and its stock price – fell.
In March, he had to fend off an attack from Peltz, who claimed the company had “lost its way” and was seeking two seats on Disney’s board. Disney has also benefited from a boom in its theme park business. It manages six resorts worldwide.
But it is the £165bn company’s streaming business, Disney+, that is being watched most closely by investors.
In addition to showing hit shows like The Bear and Renegade Nell, a film from the Taylor Swift Eras Tour was added in February.
The company has attracted subscribers, but has suffered large losses. Iger has said he wants to make Disney+ profitable by the end of this year.