Financial Performance - Net income for the quarter ended December 30, 2023, was $2,151 million, compared to $1,361 million for the same period in 2022, representing a 58% increase[7] - Comprehensive income attributable to Disney for the quarter was $1,701 million, up from $920 million year-over-year, indicating an increase of 85%[7] - Cash provided by operations was $2,185 million, compared to a cash used in operations of $(974) million in the same quarter last year, indicating a turnaround in operational cash flow[11] - The company reported a net income before income taxes of $2,871 million, compared to $1,773 million in the prior year, reflecting a year-over-year increase of 62.2%[29] - Net income attributable to Disney increased to $1.9 billion, up 49% from $1.3 billion in the prior-year quarter[97] - Diluted earnings per share (EPS) attributable to Disney rose to $1.04, a 49% increase compared to $0.70 in the prior-year quarter[97] Assets and Liabilities - Total current assets decreased to $25,971 million from $32,763 million, a decline of approximately 21%[9] - Cash and cash equivalents dropped significantly from $14,182 million to $7,192 million, a decrease of about 49%[9] - Total assets decreased from $205,579 million to $197,774 million, reflecting a reduction of approximately 4%[9] - Current liabilities remained relatively stable at $31,033 million compared to $31,139 million in the previous quarter[9] - Total equity increased from $103,957 million to $105,501 million, showing a growth of about 1.5%[9] - The company reported a reduction of borrowings by $(309) million, down from $(1,000) million in the same quarter last year, indicating improved debt management[11] Revenue and Segment Performance - Total segment revenues for the quarter ended December 30, 2023, were $23,549 million, a slight increase from $23,512 million in the same quarter of 2022, representing a growth of 0.2%[25] - Segment operating income for the quarter was $3,876 million, up from $3,043 million year-over-year, indicating a significant increase of 27.5%[25] - The Entertainment segment generated revenues of $9,981 million, a decrease of 6.5% from $10,675 million in the prior year[25] - The Sports segment reported revenues of $4,835 million, an increase of 4.2% compared to $4,640 million in the same quarter of 2022[25] - The Experiences segment achieved revenues of $9,132 million, up 6.9% from $8,545 million year-over-year[25] Investments and Capital Expenditures - The company paid $8.6 billion to NBC Universal for the acquisition of its 33% interest in Hulu LLC, reflecting a significant investment in its streaming strategy[18] - Total investments in parks, resorts, and other property amounted to $1,299 million, an increase from $1,181 million in the prior-year quarter[198] - The company anticipates fiscal 2024 capital expenditures to reach approximately $6 billion, up from $5 billion in fiscal 2023[198] Cash Flow and Liquidity - Cash used in investing activities was $(1,246) million, slightly improved from $(1,292) million in the same quarter last year, indicating a more efficient investment approach[11] - Cash and cash equivalents at the end of the period were $7,247 million, down from $8,516 million at the end of the previous year, indicating a decrease in liquidity[11] - The company's cash and cash equivalents decreased by $6,988 million, compared to a decrease of $3,145 million in the prior-year quarter[191] Operating Expenses and Costs - Cost of services decreased by 6%, or $0.9 billion, to $13.9 billion, primarily due to lower programming and production costs[100] - Total programming and production costs decreased by 21% to $943 million, reflecting fewer hours of scripted programming[129] - Operating expenses for the Experiences segment increased by 8% to $4,480 million, primarily due to inflation and increased costs for new guest offerings[184] Shareholder Returns - A cash dividend of $0.30 per share, totaling $549 million, was declared on November 30, 2023, and a new share repurchase program targeting $3 billion in fiscal 2024 was authorized[64] Tax and Legal Matters - The effective income tax rate increased to 25.1% from 23.2% in the prior-year quarter due to adjustments related to prior years[105] - The company is currently involved in various legal actions, including a securities class action lawsuit, but cannot reasonably estimate the potential loss at this time[73] Other Financial Metrics - Interest expense for the quarter was $246 million, a decrease from $300 million in the same quarter of the previous year[29] - The company reported unrealized losses of $(277) million during the quarter ended December 30, 2023, compared to $(475) million for the same period in 2022[66] - The balance of accumulated other comprehensive income (loss) at December 30, 2023, was $(4,194) million, compared to $(5,484) million at December 31, 2022, showing an improvement[66]

The upcoming report from Walt Disney (DIS) is expected to reveal quarterly earnings of $0.97 per share, indicating a decline of 2% compared to the year-ago period. Analysts forecast revenues of $23.47 billion, representing a decrease of 0.2% year over year.The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a com ...

Shareholders Should Vote FOR Blackwells' Nominees Jessica Schell, Craig Hatkoff and Leah Solivan on the GREEN Proxy Card Shareholders Invited to Visit www.TheFutureOfDisney.com to Review Important Information About Blackwells' Campaign WITHHOLD Your Vote from Trian Nominees Peltz and Rasulo, Discard Any BLUE Trian Proxy Card You May Receive NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Blackwells Capital, LLC ("Blackwells"), a shareholder of The Walt Disney Company ("Disney" or the "Company") (NYSE:DIS), file ...

Disney (DIS -0.38%) reports earnings this week and the company has to prove it isn't losing too many TV subscribers, is growing streaming subscribers, and continues to make money in parks. In this video, Travis Hoium covers the metrics you need to watch.*Stock prices used were end-of-day prices of Feb. 2, 2024. The video was published on Feb. 5, 2024. ...

There's a lot riding on Walt Disney (DIS -0.42%) when it steps up to post financial results for its fiscal first quarter this week. It won't be about just the numbers when the media giant pushes out its earnings report and hosts its conference call shortly after Wednesday's market close. There's a proxy battle underway with a couple of activists feeling that Disney isn't doing enough to unlock shareholder value.If the large and critical stakeholders are right, their fellow investors will vote in new directo ...

Analyst Estimates for Q1 FY2024Q4 FY2023Q1 FY 2023Revenue$23.72 billion$21.24 billion$23.51 billionEarnings Per Share84 cents14 cents70 centsNet Income$1.82 billion$1.5 billion$1.81 billionSource: Visible Alpha Key Metric: Direct-to-Consumer (Entertainment) Revenue While a general shift away from traditional cable services has weighed on some of Disney's legacy entertainment offerings, the company has made great strides with its direct-to-consumer segment, including streaming offerings such as Disney+, E ...

Shares of Walt Disney (DIS -0.35%) rose by more than 6% last month, quadrupling the market's return. It's a notable achievement for the media stock, as it fell short of the market in each of the three previous years.There isn't a lot going on at Disney in February beyond a critical financial update. Let's take a closer look at the things to watch in the shortest month of the year.Feb. 7Like most publicly traded companies, Disney puts out fresh financials every three months. Next week's update will be import ...

LOS ANGELES — A push toward streaming, a pandemic and two Hollywood labor strikes have upended the theatrical industry, dragging on annual box-office hauls.While 2024 and 2025 boast franchise-rich movie slates, Wall Street doesn't expect ticket sales to top $10 billion domestically until 2026. The domestic box office has not hit that benchmark since 2019 before the Covid pandemic. Last year, it raked in just over $9 billion.When the box office does again surpass that threshold, Disney could be the driving f ...

Walt Disney Co. DIS, +1.05% on Thursday said its board of directors is urging shareholders to “protect their investment and the future of the Company by voting the WHITE proxy card for only Disney’s 12 nominees and not the Trian Group or Blackwells nominees.” The latter groups are activist investors who are trying to place representatives on Disney’s board. Disney announced its shareholders meeting will be held April 3. ...

BURBANK, Calif.--(BUSINESS WIRE)--The Walt Disney Company (NYSE:DIS) today sent a letter to shareholders outlining the strength of the Board of Directors and its oversight of Disney’s strategy and management team as the Company navigates a new era of building that will drive meaningful growth and shareholder value creation well into the future. Disney’s Board of Directors urges shareholders to protect their investment and the future of the Company by voting the WHITE proxy card for only Disney’s 12 nomin ...