Core Insights - Disney's Q2 revenue for fiscal year 2025 reached $23.62 billion, indicating a strong performance in the quarter [1] - The earnings per share (EPS) for Q2 was reported at $1.81, reflecting the company's profitability during this period [1] Financial Performance - The total revenue of $23.62 billion represents a significant figure for the company, showcasing its ability to generate substantial income [1] - The EPS of $1.81 highlights the company's effective cost management and operational efficiency, contributing to its overall financial health [1]

Group 1 - The core point of the article is that Disney's entertainment segment reported an operating income of $1.26 billion for the second quarter [1] Group 2 - The reported operating income reflects the performance of Disney's entertainment division during the specified period [1]

Group 1 - The core viewpoint indicates that Disney's subscription business for Disney+ is expected to see moderate growth in the third quarter [1] Group 2 - The anticipated growth in Disney+ subscriptions suggests a positive trend in user engagement and retention [1]

Core Insights - Disney's fiscal second quarter results exceeded expectations, driven by strong performance in its Sports and Experiences divisions, with revenue reaching $23.6 billion, a 7% increase year-over-year [1][2] - Earnings per share rose to $1.45 from $1.21 in the previous year, indicating solid financial health [1] Revenue Performance - The Sports division saw a significant boost from the expanded College Football Playoff and an additional NFL game, leading to a 29% increase in domestic ad revenue [2] - Revenue from Domestic Parks and Experiences increased by 13%, while Consumer Products revenue climbed by 14% [3] Streaming Growth - Direct-to-consumer operating profit in streaming rose by $289 million to $336 million, marking a positive trend after a challenging five-year rollout of Disney+ [3] - Disney+ subscribers reached 126 million, an increase of 1.4 million from the previous quarter, while the Disney+-Hulu bundle grew by 2.5 million to 180.7 million [4] Future Outlook - CEO Bob Iger expressed optimism about the company's growth trajectory, highlighting upcoming theatrical releases, the launch of ESPN's new direct-to-consumer offering, and numerous expansion projects in the Experiences segment [4]

FOR IMMEDIATE RELEASE Exhibit 99.1 May 7, 2025 Total segment operating income and diluted EPS excluding certain items (also referred to as adjusted EPS) are non-GAAP financial measures. The most comparable GAAP measures are income before income taxes and diluted EPS, respectively. See the discussion on pages 17 through 21 for how we define and calculate these measures and a quantitative reconciliation thereof to the most directly comparable GAAP measures. (1) "Our outstanding performance this quarter—with a ...

Mergers and Acquisitions - OpenAI plans to acquire Windsurf for approximately $3 billion, marking its largest acquisition to date aimed at enhancing its technological capabilities in the AI sector [2] - Intel is selling 51% of its stake in Altera to Silver Lake for an estimated valuation of $8.75 billion, as part of its strategy to improve its balance sheet [3] - Harman International is acquiring Masimo's audio business for $350 million, with the deal expected to close by the end of the year [4] - Infosys has reached a final agreement to acquire The Missing Link, an Australian cybersecurity firm, to strengthen its cybersecurity capabilities [5] - DoorDash is set to acquire UK-based food delivery company Deliveroo for approximately $3.9 billion, expanding its international footprint [6] - Uber plans to acquire 85% of Turkish food delivery platform Trendyol GO for about $700 million, pending regulatory approval [7] - Lyft is acquiring European ride-hailing app FreeNow for approximately €175 million ($197 million), with the deal expected to close in the second half of 2025 [8] - Hugging Face is entering the robotics field by acquiring Pollen Robotics, although the financial terms of the deal were not disclosed [9] - WPP is acquiring data collaboration platform InfoSum to enhance its AI-driven data services [10] - CleverTap is acquiring rehool.ai to strengthen its customer retention services [11] - Focus Media plans to acquire New潮传媒 for an estimated valuation of 8.3 billion yuan [13] - China Mobile intends to acquire approximately 15.46% of Hong Kong Broadband for about HKD 1.2 billion [14] - IBM has completed the acquisition of Hakkoda to expand its data transformation services [15] - FuboTV is under investigation by the U.S. Department of Justice regarding its acquisition by Disney, focusing on potential market concentration issues [19] - Universal Music's acquisition of Downtown Music is facing an EU investigation due to potential competitive impacts [20] - Onsemi has withdrawn its acquisition offer for Allegro Microsystems, citing reluctance from Allegro's board [21]

灾难性打击再次袭击好莱坞。 当地时间周日（5月4日），习惯"推特治国、随心所欲"的美国总统特朗普在社交平台上发帖称，他授权美国商务部和美国贸易代表立即启动程 序，对所有在外国制作并进入美国的电影征收100%的关税。 "美国电影业正在急速衰亡。其他国家正提供各种优惠，试图将我们的电影人和制片公司从美国挖走。好莱坞和美国其他许多地区正在遭受重创。 这是其他国家的协同行动，构成国家安全威胁，更是一种信息战和宣传战！因此，我授权商务部与美国贸易代表，立即对所有境外制作的要在我 们国家上映的电影征收100%关税。我们要让电影重新变成美国制造！" 当地时间周一，影视媒体股集体下跌，奈飞(NASDAQ:NFLX)下跌4.55%，Lions Gate Entertainment下跌8.5%，华纳兄弟探索公司(NASDAQ:WBD) 下滑2.6%，华特迪士尼(NYSE:DIS)下跌1.7%，Imax下跌2%。美国多个行业协会联名致信国会，呼吁审慎评估该政策的经济与法律后果。显然， 加关税不会"让好莱坞再次伟大"，而是起到反效果。此举可能会大幅增加好莱坞制片厂的成本，并引发全球娱乐产业的大震荡。 《阿凡达3：火与烬》全程在新西兰 ...

Market Overview - US stock index futures are all down, with Dow futures down 0.77%, S&P 500 futures down 0.93%, and Nasdaq futures down 1.21% [1] - European indices also show declines, with Germany's DAX down 0.89%, UK's FTSE 100 down 0.22%, France's CAC40 down 0.52%, and the Euro Stoxx 50 down 0.70% [2] - WTI crude oil increased by 2.15% to $58.36 per barrel, while Brent crude rose by 2.06% to $61.47 per barrel [2] Company News - Goldman Sachs indicates that recent earnings reports from major tech companies in the AI sector have boosted investor confidence, suggesting that recent pullbacks present a buying opportunity [3] - DoorDash reported Q1 revenue growth of 20.7% to $3.03 billion, with adjusted EBITDA of $590 million, exceeding market expectations [4] - Philips lowered its annual profit forecast due to the impact of US tariffs, estimating a net effect of €250 million to €300 million (approximately $283 million to $340 million) [5] - Palantir's Q1 revenue surged 39% to $884 million, leading to an upward revision of its 2025 revenue forecast to approximately $3.9 billion, a 36% year-over-year increase [5] - Ford's Q1 revenue fell 5% to $40.7 billion but exceeded analyst expectations, while the company withdrew its full-year profit guidance [6] - Apple is expected to launch AI features in China with support from Alibaba and Baidu, integrating local compliance mechanisms [7] - WeRide expanded its strategic partnership with Uber to deploy autonomous Robotaxi services in 15 cities over the next five years [8] - The US Department of Justice is pushing for the forced divestiture of Google's online advertising business, citing illegal monopoly practices [9]

Core Viewpoint - The announcement by President Trump to impose tariffs of up to 100% on films produced overseas has sparked widespread criticism and concern regarding its potential impact on the U.S. film industry and its global competitiveness [1] Industry Impact - The proposed tariffs are expected to significantly increase production costs for major U.S. film companies, which could undermine their competitiveness in the global market [1] - Major Hollywood companies such as Netflix, Disney, Warner Bros, and Paramount experienced stock price declines of over 2% following the announcement, indicating immediate market reaction and concern [1] Expert Opinions - Industry experts argue that while the policy is framed as a measure to "protect American films," it may actually threaten the collaborative foundation that the U.S. film industry relies on for survival, potentially leading to job losses [1] - Multiple industry associations in the U.S. are jointly urging Congress to carefully assess the economic and legal implications of the proposed tariffs [1]

每经编辑 毕陆名 当地时间周一，美股主要指数集体收跌，其中标普500指数终结"九连涨"。美国总统特朗普称拟征收电影关税，影视巨头 应声下跌，奈飞早盘一度跌4%，派拉蒙、迪士尼早盘跌超2%，随后跌幅有所收窄。 截至收盘，奈飞收跌1.94%，派拉蒙跌1.57%，迪士尼跌0.41%。 消息面上，据央视新闻6日报道，当地时间5月5日，白宫表示，尚未就电影关税做出"最终"决定。 白宫发言人库什·德赛表示，尽管尚未做出最终决定，但政府正在探索所有方案以履行特朗普的指示。 当地时间5月4日，美国总统特朗普在社交媒体上发文称，他授权美国商务部和美国贸易代表立即启动程序，对所有在外 国制作并进入美国的电影征收100%的关税，希望"再次拥有美国制作的电影"。特朗普称，美国电影业正在迅速消亡，好 莱坞正在被美国电影人和电影公司赴海外工作的趋势"摧毁"，这对美国构成"国家安全威胁"。 对此，《纽约时报》4日报道指出，关税措施可能适得其反，伤害美国本土电影，因为许多美国大型电影公司为了降低成 本或获得税收优惠，常常在海外拍摄或进行后期制作。新关税政策将导致这些公司面临更高成本，可能损害它们的全球 竞争力。 好莱坞行业媒体报道说，近年不 ...