Walt Disney beat Wall Street expectations on Wednesday as it revealed earnings for the first quarter of 2023. The corporation posted net income of $1.279 billion, or earnings of $0.70 per diluted share, compared to $0.63 per share this quarter last year, on revenue of $23.5 billion. That represented an 8% jump in revenue compared to $21.8 billion in the same period last year.
The company cited the box office from “Black Panther: Wakanda Forever” as contributing to a boost in its theatrical results.
The results showed a media giant still emerging from the effects of the pandemic and the shift to streaming, with a veteran leader, Bob Iger, returning to right the ship after the company’s previous quarterly report led to the ouster of Bob Chapek as CEO.