Walt Disney, which is in another fight with activist investor Nelson Peltz, reported better-than-expected fourth-quarter earnings (July-September). But it said it would seek additional $2 billion in cost savings from the ongoing deficit. Cost savings include innovative measures such as the sale of the TV network division. In the case of Disney's future streaming service, 5 million subscribers (Disney+) were added along with improved profits.

Disney, the world's No. 1 entertainment company, reported quarterly earnings for July-September 2023 and reported earnings per share of 82 cents. The performance was higher than the analyst prediction of 69 cents.

Quarterly revenue rose 5.4% year-over-year to $21.2 billion. Increasing profits and cost-cutting efforts are expected to give a boost to CEO Bob Iger, who is in a "conflict over the appointment of outside directors" with Peltz of activist fund Triane Fund Management, Disney's shareholder. The Trian Fund is interfering in its management, holding about $2.5 billion worth of Disney shares. Iger said he would save $5.5 billion a year since taking office and has already laid off 7,000 employees.

Meanwhile, Bob Iger mentioned four categories Disney should focus on in his earnings call. He includes achieving continuous profitability in streaming, building an ESPN digital sports platform, improving the economics of movie studios, and developing theme park businesses.