Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media.
Disney recently reported quarterly earnings, performing ahead of expectations but backs off of its guidance:
- EPS of $1.53 per share was reported versus. $1.44 per share expected.
- Revenue of $20.86 billion was achieved vs. $20.79 billion expected.
- Disney+ recorded 26.5 million subscribers, up from the 10 million sign-ups after its launch on November 12.
- The company informed that ESPN+ has 7.6 million subscribers and Hulu has 30.7 million total subscribers. Hulu reported average monthly revenue per paid subscriber of $59.47 and ESPN+ reported average monthly revenue per paid subscriber of $4.44 during the quarter.
- Studio Entertainment reported revenues at $3.76 billion during the quarter an increase from $1.8 billion a year ago. The increase was due to the positive performances of “Frozen II” and “Star Wars: The Rise of Skywalker,” released last year.
- Revenue for Disney’s Parks, Experience and Products segment increased 8% year over year to $7.4 billion during the quarter pushed by the growth of Disney’s domestic parks and resorts. Operating income increased 9% to $2.3 billion due to the opening of new parks and attractions.
- Operating income at Hong Kong Disneyland declined by $80 million for the quarter due to low attendance and hotel occupancy as a result of protests in the region.
- Disney informed that the recent closures of its parks in Shanghai and Hong Kong will affect its fiscal second quarter and full-year results.
“Well, it’s obviously a very good start, but we are not updating our guidance today. We will say something on the call about subs between the end of the quarter, the end of December and where we are as of yesterday. But we are not updating our guidance.” Bob Iger, CEO of Disney
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