The results show that a turnaround started by Iger was paying off. Since he returned, Disney has cut back on original content for its streaming service after a spending spree under predecessor Bob Chapek that led to streaming quarterly losses of $1.5 billion in November 2022.

Old Hollywood is finally doing what Netflix Inc. has been doing for over a decade: making money from streaming.

The profit at Disney's direct-to-consumer division even exceeded the earnings from its film division, which scored $3 billion in global ticket sales this summer from the blockbusters Inside Out 2