Welcome to Extreme Investor Network, where we provide you with the latest updates on the business world that you won’t find anywhere else. Today, we’re diving into the upcoming earnings report from Disney, a company that has been making major moves in both the streaming and theme park industries.
Disney is set to report its earnings before the bell, and all eyes on Wall Street will be glued to see the progress that the company has made since CEO Bob Iger returned in 2022. In particular, analysts will be closely monitoring the results of Disney’s streaming and theme parks businesses.
According to LSEG, here’s what Wall Street is expecting from Disney’s earnings report:
– Earnings per share: $1.19 expected
– Revenue: $23.071 billion expected
Last quarter, Disney+ and Hulu turned a profit for the first time, showing promising growth for the streaming services. Disney+ Core subscribers increased by more than 6 million to 117.6 million global customers, while Hulu subscribers rose by 1% to 50.2 million. However, ESPN+ subscribers saw a decline of 2% to 24.8 million.
While Disney has made significant strides in achieving profitability for its streaming services, there are challenges ahead, particularly with ESPN+. Despite this, Disney’s traditional TV business remains strong, with its TV network counterpart continuing to shine.
In addition to its streaming services, Disney’s theme parks division is also a key focus. With plans to invest $60 billion in its theme parks over the next decade, Disney is signaling the importance of this business. Last quarter, the U.S. parks and experiences division saw a 7% increase in revenue, with international sales soaring by 29%. Despite this positive momentum, Disneyland Resort in California faced pressure with lower profits due to cost inflation.
It’s important to note that Comcast, the parent company of CNBC, faced challenges with its Universal theme parks in a recent earnings report. Increased competition from cruises and international tourism impacted the earnings, but executives remain confident in the business, especially with a new theme park opening in 2025.
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