NEW YORK, Nov. 14 (Xinhua) -- After years of investing heavily in streaming, Disney's direct-to-consumer business swung to a profit of 321 million U.S. dollars in the September quarter from a loss of 387 million dollars a year earlier.
"The stark improvement for the business, home to Disney+, Hulu and ESPN+, marked its second consecutive quarterly profit," reported The Wall Street Journal (WSJ) on Thursday.
Meanwhile, Disney's cable TV unit continued to lose steam. Income from its traditional TV networks, which include both ABC and cable channels such as FX, the Disney Channel and Freeform, tumbled 38 percent to 498 million dollars. Revenue fell 6 percent to 2.5 billion dollars.
"Disney and many of its rivals are betting that streaming is the future as the traditional cable TV model withers," said WSJ. "The company's performance in the September quarter highlights the delicate balancing act Disney faces as two of its most profitable legacy businesses show signs of strain and two other units notch wins."
Companywide, revenue rose to 22.6 billion dollars, up 6 percent from a year earlier and roughly in line with analyst expectations, while net income climbed 74 percent to 460 million dollars.
