Disney reports nine-month profits of $7,287 billion, down 34.2% from the previous year

The Walt Disney Company, a major player in the entertainment industry. Reported on Wednesday that it made $7,287 billion in the first nine months of its fiscal year, a 34.2% decrease from the same period last year.

The corporation reported cumulative sales of $76,397 billion for those nine months, up 6%, according to a press release released prior to Wall Street’s opening.

Disney reported a net profit of $2,638 billion (down 49.9% year over year) and revenue of $25,248 billion (up 7%). In the third quarter, which is the one that analysts are most interested in.

The entertainment segment generated $11,345 billion of the revenue, while the experiences segment contributed $9,968 billion.

Meanwhile, the company exceeded Wall Street’s earnings expectations but fell slightly short of revenue estimates.

“Nationally, we’re doing very well right now,” Disney CFO Hugh Johnston told CNBC, noting that attendance at U.S. parks rose 3% and spending per person grew 4%.

Johnston also highlighted the “very high attendance” at Walt Disney World in Orlando, Florida.

Meanwhile, Disney’s entertainment streaming business (comprising primarily Disney+ and Hulu) returned to profitability. Revenue for this segment rose 11% to $5.53 billion during the quarter.

Disney shares rose approximately 3% in pre-market trading.