It was a successful fiscal third quarter for The Walt Disney Company, which saw revenue jump 26 percent and profits up 54 percent compared to the same period in 2021. The company, celebrating its centenary, had revenue of $21.5 billion and profits of $1.41 billion (77 cents a share) for the three months ending July 2. Theme park revenue was up more than 70 percent, to $7.4 billion, as the company continued to shake COVID-19 contractions. For an added flourish, Disney+ grew a whopping 31 percent worldwide, adding 14.4 million subscribers to top out at 152 million. Continue reading Record $7.4B in Theme Parks Propels Profit Surge for Disney

Alphabet had a rocky second quarter with revenue of $69.69 billion, up 13 percent from the same period in 2021, though net income was down 14.6 percent to $16 billion. It was Alphabet’s slowest growth rate since Q2 2020, when COVID-19 wreaked havoc on the economy. In a contracting 2022 advertising market, Alphabet posted 12 percent ad growth, totaling $56.3 billion for the quarter ended June 30 versus the same period the previous year. Ad growth was down substantially over the 69 percent increase of Q2 2022, but increased nonetheless where others are declining. Continue reading Google’s Ad Growth Slows While Search Exceeds Projections