November 15, 2024 – 5:09 AM PST
(Reuters) – Bob Iger returned to Walt Disney (DIS.N), as CEO in 2022 with a bold promise of making streaming profitable.
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The latest quarterly results have shown signs of a turnaround at the storied media company, suggesting that Iger may be getting the House of Mickey Mouse in order by focusing on its streaming business.
Disney on Thursday reported its second straight quarterly profit for the streaming business, riding on cost-cutting measures and a 4.4 million jump in subscribers after it started cracking down on password-sharing by users.
Its $253 million operating profit for the streaming business in the fourth quarter nearly offset the $307 million that its traditional television business shed in operating income.
The hope is that Disney’s streaming…
