Walt Disney’s latest financial report exceeded the predictions of financial experts on Wall Street, and it’s all thanks to the increased number of visitors to their magical theme parks in Shanghai and Hong Kong. This fantastic news caused a 3% surge in Walt Disney’s stock price during after-hours trading, bringing it to a promising $87.14 on a Wednesday. To sweeten the deal, the company also revealed plans to trim an additional $2 billion in expenses, making investors even happier.
Walt Disney just crushed expectations in its latest financial report for the fourth quarter, which ended on September 30. They reported earnings of 82 cents per share, beating the average prediction of 70 cents, according to data from LSEG. What’s more, their quarterly revenue of $21.2 billion was right in line with what experts had been anticipating, as reported by Reuters. Disney seems to be doing exceptionally well!
The company is also gearing up to make a heartfelt request to its board of directors. They want to bring back those sweet dividend payments to our loyal shareholders, and they’re aiming to do so by the close of 2023. Kevin Lansberry, who’s temporarily wearing the Chief Financial Officer hat, spilled the beans on this exciting plan.
Walt Disney had quite the impressive update to share! In the latest quarter, they happily revealed that they welcomed nearly 7 million new subscribers to their Disney streaming service. What’s even more exciting is that this boost can be attributed to the much-anticipated “Guardians of the Galaxy Vol. 3” and the fantastic original series “Star Wars: Ahsoka.
Now, when it comes to the grand total of subscribers, Disney and Disney Hotstar joined forces to make a whopping 150.2 million subscribers strong. It’s fascinating to note that this figure has actually exceeded Visible Alpha’s estimate of 147.4 million, as reported by Reuters. Disney’s magic continues to draw fans from all corners of the galaxy!
Iger expressed his satisfaction with the latest quarterly results, emphasizing the remarkable strides the company has taken in the past year. He acknowledged that there’s more work ahead, but he was optimistic about leaving behind the phase of addressing issues and shifting focus towards the exciting task of rebuilding our businesses.
Disney’s streaming empire, which encompasses beloved platforms like Hulu and ESPN, unveiled some remarkable financial wizardry in its recent quarterly report. The company managed to shrink its quarterly losses to a far more manageable $387 million, down from a staggering $1.47 billion just a year prior. How did they pull off this financial magic act, you ask? Well, it seems they waved the wand of price hikes and summoned the genie of higher ad revenue. This strategic move allowed them to navigate the treacherous waters of the streaming world with style and grace.
The company confidently announced that its streaming division is well on its way to becoming profitable by September 2024.
Disney’s recently rebranded Experiences group, encompassing everything from theme parks and resorts to cruise lines and consumer products, saw a remarkable surge in operating income this quarter. It raked in nearly $1.8 billion, a substantial 31% increase compared to the same period last year, according to Reuters.
Increased visitor numbers at Shanghai Disney, Hong Kong Disneyland, and various Disneyland resorts, combined with the expansion of their cruise operations, helped cushion the impact of declining performance at Walt Disney World in Florida.
Disney’s Entertainment division, encompassing its television networks, film studio, and streaming services like Disney+ and Hulu, reported a significant positive turnaround in the last quarter. It posted a robust operating income of $236 million, marking a substantial improvement from the losses of $608 million incurred during the same period a year ago.
