Disney reported a strong second quarter driven by robust performance in its theme parks and streaming businesses, with adjusted earnings per share rising 20% year-over-year despite macroeconomic challenges. The company announced plans for Disneyland Abu Dhabi, highlighting its global expansion strategy. However, Disney's traditional television segment, including ABC and cable networks, saw a 13% decline in revenue to $2.4 billion, although operating profit increased slightly by 2% to $769 million due to programming cutbacks. ESPN experienced a 32% increase in viewers, contributing to the entertainment segment's growth. Meanwhile, Lyft's shares surged over 28% following the announcement of a $750 million buyback program and continued strong bookings growth, marking the 16th consecutive quarter of double-digit booking increases. Lyft's CEO indicated no current concerns about consumer demand despite broader economic headwinds.
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"Disney’s traditional television business, which includes ABC and a portfolio of cable networks: Revenue fell 13%, to $2.4 billion. Programming cutbacks (fewer new shows) allowed the division to eke out a 2% increase in operating profit ($769 million)." https://t.co/sSI7WPp9vg