WELL Health
Trending >

DIS stock rises on Q4 earnings


Shares of Disney are trading up in the pre-market today after the company’s fourth quarter beat the street’s expectations.

The Walt Disney Company (Disney Stock Quote, Chart, News, Analysts, Financials NYSE: DIS) concluded its fiscal year on a positive note, with a reported revenue increase of 5% for the quarter and 7% for the full year, despite a year-over-year dip in diluted earnings per share from continuing operations.

The entertainment titan announced substantial gains, including nearly 7 million new core subscribers for Disney+, bolstered by key streaming content such as “Elemental,” “Little Mermaid,” and “Guardians of the Galaxy Vol. 3.” The company’s CEO, Robert A. Iger, highlighted significant advancements in four pivotal areas — streaming business profitability, ESPN’s digital platform development, film studio output, and growth in parks and experiences.

Operational efficiency improvements have been a focus, with Disney on track to achieve approximately $7.5 billion in cost reductions. This is expected to contribute to a substantial increase in free cash flow for fiscal 2024, edging closer to pre-pandemic levels.

Despite facing challenges such as wage inflation and comparison to the previous year’s 50th-anniversary celebrations at Walt Disney World, operating income from experiences soared over 30%. This growth was consistent across all international sites, Disney Cruise Line, Disney Vacation Club, and Disneyland Resort.

Disney’s CEO Robert Iger remains optimistic about the company’s trajectory, stating, “We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency.”

With a robust balance sheet and targeted investments, Disney positions itself to navigate the evolving entertainment landscape while eyeing profitability in its combined streaming ventures by the fourth quarter of FY24.

We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

ChatGPT is a large language model developed by OpenAI, based on the GPT-3.5 architecture. It was trained on a massive amount of text data, allowing it to generate human-like responses to a wide variety of prompts and questions. ChatGPT can understand and respond to natural language, making it a valuable tool for tasks such as language translation, content creation, and customer service. While ChatGPT is not a sentient being and does not possess consciousness, its sophisticated algorithms allow it to generate text that is often indistinguishable from that of a human.
insta twitter facebook