Disney’s streaming business turned a profit for the first time

Disney’s streaming business has yet go profitable. In its Q3 net results released connected Wednesday, nan institution reported making $47 cardinal disconnected Disney Plus, Hulu, and ESPN Plus.

Like different streamers, Disney has struggled pinch making its streaming business profitable. At nan aforesaid clip past year, Disney Plus, ESPN Plus, and Hulu recorded a $512 cardinal loss. Things started to move astir past 4th erstwhile some Disney Plus and Hulu posted a profit past quarter, but losses astatine ESPN Plus prevented Disney’s wide streaming business from crossing nan statement into profitability.

“This was a beardown 4th for Disney, driven by fantabulous results successful our Entertainment conception some astatine nan container agency and successful DTC, arsenic we achieved profitability crossed our mixed streaming businesses for nan first clip and a 4th up of our erstwhile guidance,” says Disney CEO Bob Iger successful a statement.

Meanwhile, Disney Plus added conscionable nether 1 cardinal subscribers successful nan US and Canada, bringing its full to 54.8 million. Hulu subscribers besides grew to 51.1 million, compared to 50.2 cardinal past quarter. Even though its subscriber maturation remained comparatively flat, Disney is still looking for ways to make much money disconnected its existing personification base.