Money generator: In February Disney+ added a Taylor Swift Eras Tour film
Disney is set 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 it will post a profit of around £3.6bn over the six months to March, thanks in part to a cost-cutting programme. This would be the best performance in six years.
Longtime boss Iger, 73, left in 2020 but returned less than a year later after Disney’s profits and stock price plunged.
In March he had to defend himself against an attack from Peltz, who claimed that the company had “lost its way” and was seeking two seats on Disney’s board of directors. Disney has also benefited from the boom in its theme park business. It manages six resorts around the world.
But it is the company’s £165bn streaming business, Disney+, that investors are watching most closely.
In addition to showing hit shows like The Bear and Renegade Nell, in February it added a Taylor Swift Eras Tour movie.
The business has attracted subscribers but has suffered heavy losses. Iger has said that he wants Disney+ to be profitable by the end of this year.
