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AP National Business

Disney returns to profit in 4Q, helped by reopened parks

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Published 3:41 PM

By TALI ARBEL
AP Technology Writer

The Walt Disney Co. returned to a quarterly profit as it once again got a bump from reopened parks. Disney has closed or limited capacity at its theme parks during the pandemic, weighing on revenue. But Burbank, California-based Disney’s financial results on Wednesday came short of analyst predictions, and shares dropped in aftermarket trading. The company ended its fiscal year with 118.1 million Disney+ subscribers, up 60% from the previous year but less than analysts’ forecast of 126.2 million. Disney says its streaming business is its top priority as cord-cutting reduces the viewing universe for traditional TV networks.

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