Walt Disney and Mickey Mouse “Partner” statues at Cinderella Castle at Walt Disney World’s Magic Kingdom in Lake Buena Vista, Florida, on Saturday, June 3, 2023.
Joe Burbank | Tribune News Service | Getty Images
disney Earnings are released before the bell, and Wall Street will be closely watching the company’s continued turnaround since then. Bob Iger As CEO again in 2022, especially the performance of the company’s streaming and theme park businesses.
According to LSEG, Wall Street expects Disney to report the following:
- Earnings per share: Estimated $1.19
- income: Estimated US$23.071 billion
On the streaming side, Disney+ and Hulu Turn losses into profits First time last season.
During Disney’s second quarter, Disney+ core subscribers (excluding Disney+ Hotstar in India and other countries in the region) grew by more than 6 million, bringing the number of global customers to 117.6 million. The total number of Hulu users increased by 1% to 50.2 million; at the same time, the number of ESPN+ subscribers fell by 2% to 24.8 million.
Like all of its media peers, Wall Street is keeping a close eye on Disney’s streaming division, which includes Disney+, Hulu and ESPN+, especially since the company has said it aims to make the combined service profitable by the end of the year.
Paul Verna, eMarketer’s vice president of content, said that while Disney came closer to that milestone last quarter with Disney+ and Hulu, “continued losses and soft guidance for ESPN+ … indicate a bumpy road ahead.”
On the company’s last earnings call, executives warned they didn’t expect to add customers in the third quarter, but expected resume growth in season four.
While ESPN+ has put pressure on Disney’s streaming division, its network unit remains a bright spot in the company’s traditional TV business. Still, the traditional TV business is expected to decline as customers continue to cut back on pay-TV bundles.
Also, Disney’s theme park division is a key focus as they have been profit drivers for the company. The condition of certain Disney U.S. parks is of particular interest.
Disney has Commitment The $60 billion that will be invested in theme parks over the next decade is a clear indication of the importance of the business.
Last quarter, U.S. Parks and Experiences segment revenue rose 7% to $5.96 billion, and international sales soared 29% to $1.52 billion, driven by higher attendance and prices at Hong Kong Disneyland Resort. Emarketer’s Verna expects the park to continue to have “positive momentum.”
However, Disneyland in California is facing downward pressure on profits. Executives attributed the annual decrease to cost inflation, including high labor expenses.
last month Comcastof benefit Its Universal theme parks were dragged down, which the company attributed to increased competition from cruise ships and international tourism. Still, Comcast executives said they remain “bullish” on the business, especially with the opening of a new theme park in 2025.
Revealed: Comcast owns NBCUniversal, the parent company of CNBC.
