Media giant Disney released its fourth financial quarter earnings report Thursday, revealing the company beat Wall Street’s expectations for profit in Q4.
According to the company, growth in Disney’s ESPN+ and its theme park division helped boost its profits while ad revenue declined in the quarter.
Disney went on to reveal an additional $2 billion cost-savings slash to its budget, bringing its planned cuts to a total $7.5 billion.
AS a result, Disney shares closed 6% higher Thursday.
