wabbott
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I tend to agree. Except instead of "hundreds" of cable channels, there are "many thousands" of streaming choices.
DIS Shareholders and Stock Info ONLY
- Thread starter hhisc16
- Start date
Exactly, it will be back to the future.
Are you saying all our anecdotal evidence is incorrect???????????
HokieRaven5
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Is there a nice way of saying your cancellation of Peacock was meaningless to Comcast?Are you saying all our anecdotal evidence is incorrect???????????
HokieRaven5
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The Walt Disney Company First Quarter Fiscal 2024 Earnings Report
WALT DISNEY COMPANY REPORTS FIRST QUARTER EARNINGS FOR FISCAL 2024
BURBANK, Calif. – The Walt Disney Company today reported earnings for its first quarter ended December 30, 2023.
Financial Results for the Quarter:
• Revenues for the quarter were comparable to the prior-year quarter at $23.5 billion.
• Diluted earnings per share (EPS) for the quarter increased to $1.04 from $0.70 in the prior-year quarter.
• Excluding certain items(1), diluted EPS for the quarter increased to $1.22 from $0.99 in the prior-year quarter.
Key Points:
• Our first quarter earnings results reflect the progress we’ve made in our strategic transformation, as we continue to build from a position of strength.
• We are achieving significant cost reductions across our businesses, as evidenced by the realization of over $500 million in selling, general and administrative and other operating expense savings across the enterprise in the first quarter.
• We are on track to meet or exceed our $7.5 billion annualized savings target by the end of fiscal 2024, while we continue to look for further efficiency opportunities.
• Based on the strength of first quarter results as well as our expectations for the balance of the year, we expect full year fiscal 2024 earnings per share excluding certain items(1) to increase by at least 20% versus 2023, to approximately $4.60.
• Further, we continue to expect free cash flow(1) generation in fiscal 2024 to total roughly $8 billion.
• We continue to expect to reach profitability at our combined streaming businesses in the fourth quarter of fiscal 2024, and are making tremendous progress in this area, with first quarter Entertainment DTC operating losses improving by nearly $300 million versus the prior quarter. We believe this business will ultimately be a key earnings growth driver for the Company.
• Hulu subscribers increased by 1.2 million from the prior quarter. Disney+ Core subscribers decreased sequentially by 1.3 million, in line with prior guidance and reflecting a substantial price increase in the quarter as well as the end of the global summer promotion. Disney+ Core ARPU increased sequentially by $0.14 versus the fourth quarter.
• We expect Disney+ Core subscriber net additions of between 5.5 and 6 million and ongoing positive momentum in ARPU in the second quarter.
• ESPN’s domestic business grew both revenue and operating income year over year in the first quarter, and we continue to build ESPN into the world’s preeminent digital sports platform.
• At Experiences, we generated all-time records in revenue, operating income, and operating margin in the first quarter, and we recently celebrated the well-received openings of World of Frozen at Hong Kong Disneyland Resort and Zootopia at Shanghai Disney Resort.
• In February 2024, the Board of Directors approved a new share repurchase program effective February 7, 2024; we plan to target $3 billion in repurchases in fiscal 2024.
• The Board also declared on February 7, 2024 a cash dividend of $0.45 per share - an increase of 50% versus the last dividend paid in January - payable July 25, 2024 to shareholders of record at the close of business on July 8, 2024.
Message From Our CEO:
“Just one year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company, focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences.
“As we build for the future, the steps we are taking today lend themselves to solidifying Disney’s place as the preeminent creator of global content. Looking at the renewed strength of all of our businesses this quarter – from Sports, to Entertainment, to Experiences – we believe the stage is now set for significant growth and success, including ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow.”
WALT DISNEY COMPANY REPORTS FIRST QUARTER EARNINGS FOR FISCAL 2024
BURBANK, Calif. – The Walt Disney Company today reported earnings for its first quarter ended December 30, 2023.
Financial Results for the Quarter:
• Revenues for the quarter were comparable to the prior-year quarter at $23.5 billion.
• Diluted earnings per share (EPS) for the quarter increased to $1.04 from $0.70 in the prior-year quarter.
• Excluding certain items(1), diluted EPS for the quarter increased to $1.22 from $0.99 in the prior-year quarter.
Key Points:
• Our first quarter earnings results reflect the progress we’ve made in our strategic transformation, as we continue to build from a position of strength.
• We are achieving significant cost reductions across our businesses, as evidenced by the realization of over $500 million in selling, general and administrative and other operating expense savings across the enterprise in the first quarter.
• We are on track to meet or exceed our $7.5 billion annualized savings target by the end of fiscal 2024, while we continue to look for further efficiency opportunities.
• Based on the strength of first quarter results as well as our expectations for the balance of the year, we expect full year fiscal 2024 earnings per share excluding certain items(1) to increase by at least 20% versus 2023, to approximately $4.60.
• Further, we continue to expect free cash flow(1) generation in fiscal 2024 to total roughly $8 billion.
• We continue to expect to reach profitability at our combined streaming businesses in the fourth quarter of fiscal 2024, and are making tremendous progress in this area, with first quarter Entertainment DTC operating losses improving by nearly $300 million versus the prior quarter. We believe this business will ultimately be a key earnings growth driver for the Company.
• Hulu subscribers increased by 1.2 million from the prior quarter. Disney+ Core subscribers decreased sequentially by 1.3 million, in line with prior guidance and reflecting a substantial price increase in the quarter as well as the end of the global summer promotion. Disney+ Core ARPU increased sequentially by $0.14 versus the fourth quarter.
• We expect Disney+ Core subscriber net additions of between 5.5 and 6 million and ongoing positive momentum in ARPU in the second quarter.
• ESPN’s domestic business grew both revenue and operating income year over year in the first quarter, and we continue to build ESPN into the world’s preeminent digital sports platform.
• At Experiences, we generated all-time records in revenue, operating income, and operating margin in the first quarter, and we recently celebrated the well-received openings of World of Frozen at Hong Kong Disneyland Resort and Zootopia at Shanghai Disney Resort.
• In February 2024, the Board of Directors approved a new share repurchase program effective February 7, 2024; we plan to target $3 billion in repurchases in fiscal 2024.
• The Board also declared on February 7, 2024 a cash dividend of $0.45 per share - an increase of 50% versus the last dividend paid in January - payable July 25, 2024 to shareholders of record at the close of business on July 8, 2024.
Message From Our CEO:
“Just one year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company, focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences.
“As we build for the future, the steps we are taking today lend themselves to solidifying Disney’s place as the preeminent creator of global content. Looking at the renewed strength of all of our businesses this quarter – from Sports, to Entertainment, to Experiences – we believe the stage is now set for significant growth and success, including ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow.”
TheDailyMoo
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- Jun 9, 2021
- Messages
- 2,148
I have a long way to go before I see my cost basis again but this is a step in the right direction. No more BS from this company. Just treat all your customers right while still making them give you a lot of money. Boom. Done.
wabbott
DIS Veteran
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- Aug 4, 2021
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- 6,467
https://finance.yahoo.com/news/disn...amid-narrower-streaming-losses-210518117.html
Disney reports earnings beat amid narrower streaming losses
Alexandra Canal
·Senior Reporter
Wed, Feb 7, 2024, 3:05 PM CST
Disney (DIS) announced it would boost its cash dividend by 50% on Wednesday as the company reported fiscal first quarter earnings that beat expectations while streaming losses narrowed Disney reported adjusted earnings of $1.22 a share — a significant beat compared to the $0.99 analysts polled by Bloomberg had expected. The company also guided to full-year fiscal 2024 earnings of $4.60 a share, an increase of at least 20% versus 2023.
Revenue came in at $23.5 billion, a slight miss compared to the $23.8 billion expected.
"We are on track to meet or exceed our $7.5 billion annualized savings target by the end of fiscal 2024, while we continue to look for further efficiency opportunities," the company said in the release.
The company announced a cash divided of $0.45 a share, an increase of 50% versus the last dividend paid in January. The dividend will be payable on July 25 to shareholders of record at the close of business on July 8.
The board also approved a new share repurchase program, targeting $3 billion in purchases in fiscal 2024.
Disney reports earnings beat amid narrower streaming losses
Alexandra Canal
·Senior Reporter
Wed, Feb 7, 2024, 3:05 PM CST
Disney (DIS) announced it would boost its cash dividend by 50% on Wednesday as the company reported fiscal first quarter earnings that beat expectations while streaming losses narrowed Disney reported adjusted earnings of $1.22 a share — a significant beat compared to the $0.99 analysts polled by Bloomberg had expected. The company also guided to full-year fiscal 2024 earnings of $4.60 a share, an increase of at least 20% versus 2023.
Revenue came in at $23.5 billion, a slight miss compared to the $23.8 billion expected.
"We are on track to meet or exceed our $7.5 billion annualized savings target by the end of fiscal 2024, while we continue to look for further efficiency opportunities," the company said in the release.
The company announced a cash divided of $0.45 a share, an increase of 50% versus the last dividend paid in January. The dividend will be payable on July 25 to shareholders of record at the close of business on July 8.
The board also approved a new share repurchase program, targeting $3 billion in purchases in fiscal 2024.
mdmost
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- Jul 3, 2021
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- 1,627
wabbott
DIS Veteran
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- Aug 4, 2021
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Entertainment
Revenue and operating income (loss) for the Entertainment segment are as follows:
Quarter Ended
Change($ in millions)
December 30,
2023 December 31, 2022
Revenues:
Linear Networks $ 2,803 $ 3,202 (12) %
Direct-to-Consumer 5,546 4,822 15 %
Content Sales/Licensing and Other 1,632 2,651 (38) %
$ 9,981 $ 10,675 (7) %
Operating income (loss):
Linear Networks $ 1,236 $ 1,330 (7) %
Direct-to-Consumer (138) (984) 86 %
Content Sales/Licensing and Other (224) (1) >(100) %
$ 874 $ 345 >100 %
Revenue and operating income (loss) for the Entertainment segment are as follows:
Quarter Ended
Change($ in millions)
December 30,
2023 December 31, 2022
Revenues:
Linear Networks $ 2,803 $ 3,202 (12) %
Direct-to-Consumer 5,546 4,822 15 %
Content Sales/Licensing and Other 1,632 2,651 (38) %
$ 9,981 $ 10,675 (7) %
Operating income (loss):
Linear Networks $ 1,236 $ 1,330 (7) %
Direct-to-Consumer (138) (984) 86 %
Content Sales/Licensing and Other (224) (1) >(100) %
$ 874 $ 345 >100 %
wabbott
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Experiences
Experiences revenues and operating income are as follows:
Quarter Ended
Change($ in millions)
December 30, 2023 December 31, 2022
Revenue
Parks & Experiences
Domestic $ 6,297 $ 6,072 4 %
International 1,476 1,094 35 %
Consumer Products 1,359 1,379 (1) %
$ 9,132 $ 8,545 7 %
Operating income
Parks & Experiences
Domestic $ 2,077 $ 2,113 (2) %
International 328 79 >100 %
Consumer Products 700 670 4 %
$ 3,105 $ 2,862 8 %
The decrease in operating income at our domestic parks and experiences reflected lower results at
our domestic parks and resorts, largely offset by higher results at Disney Cruise Line.
• At our domestic parks and resorts, lower results in the current quarter compared to the prior-
year quarter were due to:
A decrease at Walt Disney World Resort reflecting a modest decrease in revenues and higher
costs. These impacts were due to:
▪ Lower volumes due to decreases in attendance and occupied room nights, both of which
reflected the comparison to the 50th anniversary celebration in the prior-year quarter
▪ Higher costs due to inflation, partially offset by cost saving initiatives and lower
depreciation
▪ Increased guest spending due to higher average ticket prices, partially offset by lower
average daily room rates
Results at Disneyland Resort were comparable to the prior-year quarter as revenue growth
was largely offset by an increase in costs. These impacts were attributable to:
▪ Increased guest spending primarily due to higher average ticket prices
▪ Attendance growth
▪ Higher costs driven by inflation
Experiences revenues and operating income are as follows:
Quarter Ended
Change($ in millions)
December 30, 2023 December 31, 2022
Revenue
Parks & Experiences
Domestic $ 6,297 $ 6,072 4 %
International 1,476 1,094 35 %
Consumer Products 1,359 1,379 (1) %
$ 9,132 $ 8,545 7 %
Operating income
Parks & Experiences
Domestic $ 2,077 $ 2,113 (2) %
International 328 79 >100 %
Consumer Products 700 670 4 %
$ 3,105 $ 2,862 8 %
The decrease in operating income at our domestic parks and experiences reflected lower results at
our domestic parks and resorts, largely offset by higher results at Disney Cruise Line.
• At our domestic parks and resorts, lower results in the current quarter compared to the prior-
year quarter were due to:
A decrease at Walt Disney World Resort reflecting a modest decrease in revenues and higher
costs. These impacts were due to:
▪ Lower volumes due to decreases in attendance and occupied room nights, both of which
reflected the comparison to the 50th anniversary celebration in the prior-year quarter
▪ Higher costs due to inflation, partially offset by cost saving initiatives and lower
depreciation
▪ Increased guest spending due to higher average ticket prices, partially offset by lower
average daily room rates
Results at Disneyland Resort were comparable to the prior-year quarter as revenue growth
was largely offset by an increase in costs. These impacts were attributable to:
▪ Increased guest spending primarily due to higher average ticket prices
▪ Attendance growth
▪ Higher costs driven by inflation
HokieRaven5
DIS Veteran
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- Mar 5, 2020
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- 7,837
Might as well test the theatrical audience with what would previously be considered a sure thing to make $.
fatmanatee
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- Jul 25, 2017
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- 3,659
Pretty big announcement: Disney taking a $1.5 billion stake in Epic Games.
HokieRaven5
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- Mar 5, 2020
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- 7,837
Didn’t think Peltz and Blackwells had much of a shot getting members on the board before today. After today’s report and guidance their odds took a hit.
wabbott
DIS Veteran
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- Aug 4, 2021
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- 6,467
$3.1 billion of the company's quarterly operating profit was from Parks and Experiences vs $875 million from Entertainment vs a ($103) million loss from sports.
The following table summarizes first quarter segment revenue and operating income (loss) for fiscal
2024 and 2023:
Quarter Ended
($ in millions)
December 30, 2023 December 31, 2022
Change Revenues:
Entertainment $ 9,981 $ 10,675 (7) %
Sports 4,835 4,640 4 %
Experiences 9,132 8,545 7 %
Eliminations(2) (399) (348) (15) %
Total revenues $ 23,549 $ 23,512 — %
Segment operating income (loss):
Entertainment $ 874 $ 345 >100 %
Sports (103) (164) 37 %
Experiences 3,105 2,862 8 %
Total segment operating income(1) $ 3,876 $ 3,043 27 %
The following table summarizes first quarter segment revenue and operating income (loss) for fiscal
2024 and 2023:
Quarter Ended
($ in millions)
December 30, 2023 December 31, 2022
Change Revenues:
Entertainment $ 9,981 $ 10,675 (7) %
Sports 4,835 4,640 4 %
Experiences 9,132 8,545 7 %
Eliminations(2) (399) (348) (15) %
Total revenues $ 23,549 $ 23,512 — %
Segment operating income (loss):
Entertainment $ 874 $ 345 >100 %
Sports (103) (164) 37 %
Experiences 3,105 2,862 8 %
Total segment operating income(1) $ 3,876 $ 3,043 27 %
HokieRaven5
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- Mar 5, 2020
- Messages
- 7,837
Taylor Swift might have an audience that could add to D+ subscribers
-
New Disney x LEGO Princess Castle & Royal Pets Set!
-
New Neon Merch Collection Celebrates Universal Studios Florida's 35th Year
-
Phineas & Ferb Meet and Greet Returns to Disney World & Disneyland
-
New Main Street Novelty Candy Container in Disney Springs
-
Universal Studios Florida Celebrates 'Jaws' 50th with Amity Island Tribute & New Merch
-
Saying Goodbye to Muppet*Vision 3D at Walt Disney World
-
Anna & Elsa Return to 'Paint the Night' Parade for Disneyland's 70th
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