日本住房空置率新高，泡沫破裂余波三十年 跟踪报道马斯克商业版图灰色一面的团队拿了普利策 中概股反弹，跑赢大盘得涨 25% 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 日本住房空置率新高，泡沫破裂余波三十年 日本总务省每五年公布一次住宅与土地统计调查，最新数据显示，截至 2023 年 10 月，日本有 900 万套闲置住宅，较五年前 增加了 51 万套，住房空置率升高 0.2 个百分点、达到 13.8%，为历史最高水平。 换算下来，相当于日本每 7 套房子就有一套空着。 从地域看，日本 40 个都道府县中，空置房数量均高于上次调查。其中东京都的空置房最多，达 89.8 万户。但这并不影响东 京都 23 区房价暴涨，去年新建住宅均价超过 1 亿日元。空宅比例最高的是位于日本西部的和歌山县和德岛县，都是 21%。 在日本横滨根岸高档社区有一栋平层房子，窗户钉着木板，墙壁褪色，院子里杂草丛生。在 900 万套闲置住宅中，像这样长 期无人居住或计划拆除的空置住宅有 385 万套，这个数字比五年前增长了 10.3%。 根据日本总务省的定义，空置住宅指长期没有人居住且连续 5 年没有使用过自来水和电。野村研究所 ...

Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) increased by 30% year-over-year, raising the full-year adjusted EPS growth target to 25% [4][11] - Diluted EPS for Q2 was $1.21, reflecting strong double-digit percentage year-over-year earnings growth [11] Business Segment Data and Key Metrics Changes - Entertainment segment operating income increased by over 70% year-over-year, driven by direct-to-consumer (DTC) revenue growth of 13% year-over-year [12] - Core Disney+ subscribers increased by 6.3 million in the quarter, with domestic additions of nearly 8 million [12] - Experiences segment revenue grew by 10%, with operating income increasing by 12% year-over-year [16] Market Data and Key Metrics Changes - ESPN achieved its highest April viewership since 2012, with record-breaking ratings for various sports events [8] - The NCAA Women's Final Four was the most viewed on record, and the championship game set a viewership record for college basketball [8] Company Strategy and Development Direction - The company is focused on long-term strategic investments, including the Disneyland Forward initiative, which received preliminary approval for expansion [9] - Plans to enhance the streaming service by adding an ESPN tile to Disney+ and launching a standalone ESPN streaming service in fall 2025 [5][6] Management's Comments on Operating Environment and Future Outlook - Management anticipates a softer third quarter due to seasonality but expects streaming to be a future growth driver [5] - The company is optimistic about the path to profitability in streaming, forecasting profitability in combined streaming businesses by Q4 [5][13] Other Important Information - The company is making progress on cost-efficiency initiatives, expecting to exceed the $7.5 billion annualized target and generate over $8 billion in free cash flow this fiscal year [18] - The company repurchased $1 billion of stock in Q2, indicating a commitment to returning capital to shareholders [18] Q&A Session Summary Question: Attendance expectations at domestic and global levels - Management indicated that attendance is normalizing relative to post-COVID highs, with healthy growth expected in bookings [20][21] Question: Timing for achieving double-digit operating margins in DTC - Management emphasized the goal of achieving both growth and healthy margins, with various levers in place to support this [20] Question: Outlook for ESPN and profitability amid rising sports rights costs - Management expressed confidence in ESPN's future, highlighting strong ratings and a solid sports rights portfolio [24] Question: Balance between established franchises and new IP investment - Management plans to balance sequels with original content, particularly in animation, while also exploring opportunities in the 20th Century Fox library [49] Question: Update on the Charter partnership and subscriber engagement - Early results from the Charter partnership have been positive, with added subscribers and good engagement [51] Question: Licensing content off-platform versus keeping it in-house - Management is open to selectively licensing content while maintaining a focus on exclusive offerings on their platforms [54]

Fireworks at Disney’s first-quarter earnings amid a bitter proxy fight quieted down in the second and the company’s commentary on a call today, especially around the parks business, generated some investor angst and knocked the stock lower. Disney shares are down nearly 10% late morning at about $105. Parks, as has been the pattern, was outstanding for the three months ended in March with revenue up 10% and operating income up 12%. But the future may not be as clear. The uptick was driven by international ...

Disney‘s (NASDAQ: DIS) shares have undergone a notable downturn in the aftermath of the company’s latest financial report, with a significant 7.6% drop observed during Tuesday’s premarket trading session. This decline, if sustained, would mark a departure from the positive trajectory Disney has enjoyed in the wake of its earnings releases over the past three quarters.Disney $DIS is now down 7.5% in pre market trading following its earnings pic.twitter.com/0RcsJ9xvXB— Evan (@StockMKTNewz) May 7, 2024 Should ...

Key PointsDisney issued mixed results, and shares fell 5%, but this is a sell-the-news event for dip buyers. Cash flow and FCF exceeded expectations and led the company to increase its profit guidance by 500 basis points. Analysts are buying into this turnaround story and see the stock advancing 15% to 20% from the new lows. 5 stocks we like better than Walt DisneyWalt Disney NYSE: DIS faces headwinds like any other business, but its brand strength and operational resilience shine through. CEO Bob Iger deli ...

Stock index futures were little changed before the opening bell Tuesday as investors digest a flurry of earnings reports and await more comments from Fed officials that could provide an indication of when interest rates might be cut. Futures tied to the Dow Jones Industrial Average and the S&P 500 were each 0.1% higher, while Nasdaq futures were down about 0.1% about 30 minutes before the opening bell. The Dow is on a four-session winning streak, while the other two major indexes have gained for three stra ...

Financial Performance - Net income for the quarter ended March 30, 2024, was $1,488 million, a decrease from $2,849 million for the same period last year, representing a decline of approximately 48%[7] - Comprehensive income attributable to Disney for the quarter was a loss of $27 million, compared to a profit of $1,360 million in the prior year[7] - The company reported an income before income taxes of $657 million for the quarter, a decrease from $2,123 million in the same quarter last year[33] - Total revenues for the quarter ended March 30, 2024, were $22,083 million, a decrease from $21,815 million in the same quarter of the previous year[41] - Revenues for the current six-month period increased by $0.3 billion to $45.6 billion, while net income attributable to Disney decreased by $0.7 billion to $1.9 billion, and EPS decreased from $1.39 to $1.03[133] Cash Flow and Assets - Cash provided by operations for the six months ended March 30, 2024, was $5,851 million, significantly higher than $2,262 million for the same period last year[11] - Total assets decreased from $205,579 million as of September 30, 2023, to $195,110 million as of March 30, 2024, reflecting a reduction of approximately 5%[9] - Cash, cash equivalents, and restricted cash at the end of the period were $6,726 million, down from $10,453 million at the end of the previous period, a decline of about 36%[11] - As of March 30, 2024, total cash, cash equivalents, and restricted cash decreased to $6.726 billion as of March 30, 2024, down from $14.235 billion as of September 30, 2023[51] Investments and Capital Expenditures - The company invested $2,558 million in parks, resorts, and other property during the six months ended March 30, 2024, compared to $2,430 million in the same period last year[11] - The company completed the purchase of NBC Universal's 33% interest in Hulu LLC for $8.6 billion in December 2023[22] - The company has provided loans totaling $982 million to Shanghai Disney Resort, with interest rates up to 8% and a maturity date in 2036[61] Shareholder Returns - The company repurchased $1,001 million of common stock during the financing activities, indicating a commitment to returning value to shareholders[11] - The company paid dividends totaling $1,371 million during the six months ended March 30, 2024[17] - The Board of Directors declared a cash dividend of $0.30 per share ($0.5 billion) for the second half of fiscal 2023 and a cash dividend of $0.45 per share (estimated at $0.8 billion) for the first half of fiscal 2024[76] Segment Performance - Total segment revenues for the quarter ended March 30, 2024, were $22,083 million, a 1.2% increase from $21,815 million in the same quarter last year[29] - Total segment operating income for the quarter was $3,845 million, up 17% from $3,285 million in the prior year[29] - The Entertainment segment reported an operating income of $781 million, significantly higher than $455 million in the same quarter last year, representing a 71.5% increase[29] - Experiences segment revenues rose to $8,393 million, up from $7,646 million, reflecting a 9.8% increase year-over-year[29] Liabilities and Impairments - The company reported a goodwill impairment of $2,038 million for the six months ended March 30, 2024, indicating potential challenges in asset valuation[11] - The company recognized a non-cash goodwill impairment charge of $1.3 billion related to Star India, reflecting its carrying amount exceeding fair value[44] - The company’s total liabilities related to Star India were reported at $898 million as of March 30, 2024[47] Tax and Deferred Assets - The effective income tax rate increased to 67.1% due to non-deductible goodwill impairments recognized in the current quarter[128] - The company’s net deferred tax liability as of March 30, 2024, was $6,254 million, down from $6,587 million at September 30, 2023[68] - The valuation allowance for deferred tax assets decreased by $0.2 billion from $3.2 billion at September 30, 2023, to $3.0 billion at March 30, 2024[70] Legal Matters - The Company is involved in multiple legal actions, including a private antitrust lawsuit filed by Fubo, which asserts claims under the Sherman Act and seeks unspecified money damages[93] - The Company intends to vigorously defend against various shareholder derivative complaints alleging breaches of fiduciary duty and other claims against its executives and board members[92] Equity and Compensation - The total equity-based compensation expense for the quarter ended March 30, 2024, was $367 million, an increase from $300 million for the quarter ended April 1, 2023[89] - The unrecognized compensation cost related to unvested stock options and RSUs as of March 30, 2024, was $115 million and $2.4 billion, respectively[89] Foreign Exchange and Interest Rate Management - The Company recognized a net loss of $103 million on foreign currency denominated assets and liabilities for the quarter ended March 30, 2024[110] - The Company reported a net gain of $87 million on foreign exchange risk management contracts not designated as hedges for the quarter ended March 30, 2024[110] - The total fair value of borrowings hedged as of March 30, 2024, was $12.6 billion, with adjustments totaling $(1.4) billion[106]

Walt Disney (DIS) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.04%. A quarter ago, it was expected that this entertainment company would post earnings of $0.97 per share when it actually produced earnings of $1.22, delivering a surprise of 25.77%.Over the last four quarters, the ...

Key TakeawaysShares of The Walt Disney Company fell in premarket trading Tuesday following a second-quarter report that included an overall net loss due to restructuring and other impairment charges, but surprise profitability from the direct-to-consumer entertainment segment.Tuesday's report is Disney's first since CEO Bob Iger was backed by shareholders, fending off activist investor Nelson Peltz at the company's annual meeting last month.Analysts and Iger had put emphasis on the performance of Disney's s ...

The Walt Disney Company CEO Bob Iger attends the Nominees Luncheon for the 95th Oscars in Beverly Hills, California, U.S. February 13, 2023.For Disney, the future is now.It's been five years in the making, but Disney nearly turned a profit in its streaming units for the first time in the second quarter, losing just $18 million between Disney+, Hulu and ESPN+. That's improvement from a loss of $659 million a year ago.Stripping out ESPN+, Disney+ and Hulu actually made money in the quarter — $47 million. Last ...