Financial Performance - The company reported earnings of $1.22 per share, exceeding analysts' expectations of 99 cents per share [1] - Quarterly revenue was $23.5 billion, slightly below the projected $23.6 billion but comparable to the previous year [1] - The company cut $500 million in costs during the quarter and is on track to achieve over $7.5 billion in savings by the end of the fiscal year [2] Shareholder Returns - The board authorized a $3 billion share repurchase program for the current fiscal year [1] - A dividend of 45 cents per share was declared, representing a 50% increase from the previous dividend paid in January [1] Business Segments - The Experiences unit, which includes theme parks, achieved record revenue, operating income, and operating margins [3] - The streaming business reduced operating losses to $138 million, a significant improvement from nearly $1 billion a year ago [3] - The Entertainment unit's streaming business reported revenue of $5.5 billion, marking a 15% improvement from the previous year [4] Subscriber Trends - Disney+ lost 1.3 million subscribers, nearly double the expected loss of 700,000, following a price increase [4] - The company anticipates gaining 5.5 million to 6 million Disney+ subscribers in the next quarter [4] Content Performance - The weak box office performance of "The Marvels" and "Wish" negatively impacted content sales and licensing [5] - The sports division reported revenue of $4.8 billion, a 4% increase from the previous year, but faced an operating loss of $103 million [5] Theme Park Success - Theme park revenue was boosted by new attractions, with the unit reporting $9.1 billion in revenue and $3.1 billion in operating income [6]

Disney is taking out a $1.5 billion minority stake in the company behind Fortnite.CEO Bob Iger announced the team-up Wednesday.Iger said the move will be the company's "biggest foray into the games space ever." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our T ...

Taylor Swift performs during opening night of the Chicago Eras Tour at Soldier Field on June 2, 2023, in Chicago....Ready for it?Taylor Swift's filmed Eras Tour has found a home on Disney+. The concert film will arrive on the platform on March 15, Disney CEO Bob Iger announced during the company's earnings call Wednesday."Taylor's Version" of the film will exclusively be available on the streaming service as part of its subscription. Disney noted this version will feature the concert in its entirety as well ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Disney CEO Bob Iger says ESPN‘s bulked-up streaming service will launch in the fall of 2025, or possibly even as soon as late-August of that year. The stand-alone offering will follow this fall’s planned launch of a high-profile joint streaming venture pooling the sports properties of Disney-ESPN, Warner Bros. Discovery and Fox Corp. Like that mini-bundle, the new streaming version of ESPN will offer access to multiple linear feeds of ESPN networks. Unlike the JV’s app, though, it will surround video progr ...

A detail view of a broadcast camera is seen with the NFL crest and ESPN Monday Night Football logo on it during a game between the Chicago Bears and the Minnesota Vikings at Soldier Field in Chicago on Dec. 20, 2021.ESPN will launch its flagship direct-to-consumer service in either August or the fall of 2025, Disney CEO Bob Iger announced during an interview Wednesday with CNBC's Julia Boorstin.The service will include all of ESPN's programming and feature new personalization and integration with ESPN's fan ...

Disney’s profit blew away forecasts although revenue fell a bit short in a key, and solid, earnings report that the company hopes will set the stage for more robust growth. Revenue was flat at $23.5 billion for Disney’s fiscal first quarter ended in December. Diluted EPS (excluding some items) was $1.22, up 23% from the year before. Entertainment DTC operating losses improved by nearly $300 million versus the prior quarter as it heads toward profitability by the end of fiscal 2024. “Just one year ago, we o ...

Financial Performance - Revenues for the first quarter were $23.5 billion, comparable to the prior-year quarter [2][8] - Diluted earnings per share (EPS) increased to $1.04 from $0.70 in the prior-year quarter, with adjusted EPS rising to $1.22 from $0.99 [2][8] - Cash provided by operations was $2.2 billion, a significant increase from cash used in operations of $1.0 billion in the prior-year quarter [51] Cost Management and Savings - The company achieved over $500 million in cost reductions across its businesses in the first quarter [3] - The annualized savings target is set at $7.5 billion by the end of fiscal 2024, with ongoing efforts to find further efficiencies [3] Streaming and Subscriber Metrics - Hulu subscribers increased by 1.2 million, while Disney+ Core subscribers decreased by 1.3 million due to a price increase and the end of a global promotion [3] - The company expects Disney+ Core subscriber net additions of between 5.5 and 6 million in the second quarter [3] Segment Performance - The Entertainment segment reported revenues of $9.98 billion, down 7% year-over-year, but operating income improved significantly to $874 million from $345 million [10][12] - The Sports segment saw revenue growth of 4% year-over-year, with operating losses reduced to $103 million from $164 million [10][26] - Experiences segment revenues reached $9.13 billion, an increase of 7% year-over-year, with record operating income of $3.1 billion [10][31] Shareholder Returns - The Board of Directors approved a new share repurchase program targeting $3 billion in repurchases for fiscal 2024 [3] - A cash dividend of $0.45 per share was declared, representing a 50% increase compared to the last dividend [3] Future Outlook - Full-year fiscal 2024 EPS is expected to increase by at least 20% compared to 2023, targeting approximately $4.60 [3] - Free cash flow generation for fiscal 2024 is projected to total roughly $8 billion [3]

Investors interested in stocks from the Media Conglomerates sector have probably already heard of Pearson (PSO) and Walt Disney (DIS) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive esti ...

Billionaire Elon Musk escalated his fight with Disney by backing a lawsuit by fired “Mandalorian” actress Gina Carano — who alleged the “woke” company canned her because of her conservative political views.Carano, who played warrior Cara Dune, was written off the “Star Wars” spinoff in February 2021 after spouting conspiracy theories on social media. She derided mask mandates during the pandemic and echoed false claims of voter fraud during the 2020 presidential election.In another post, the former MMA sta ...