Disney Stock Surges as Earnings Exceed Expectations
Disney stock experienced a notable surge of over 9% following the company’s fiscal fourth-quarter earnings report, which exceeded Wall Street estimates for both revenue and profits. Disney reported revenue of $22.57 billion, surpassing analyst expectations of $22.50 billion and showing growth from $21.24 billion in the previous year. The company recorded adjusted earnings per share (EPS) of $1.14, slightly above the anticipated $1.11.
The report highlighted significant profitability in Disney’s direct-to-consumer (DTC) streaming segment, which includes Disney+, Hulu, and ESPN+. This division posted an operating income of $321 million, a considerable turnaround from a loss of $387 million in the same quarter last year. CEO Bob Iger expressed optimism, indicating expectations of high-single-digit EPS growth for fiscal 2025 and double-digit growth through 2027, alongside plans for $3 billion in stock buybacks.
In the experiences segment, encompassing theme parks and cruise lines, revenue reached $8.24 billion, marking a slight increase year-over-year. However, operating income fell short of forecasts, primarily impacted by decreased attendance and spending at international parks.
The company’s succession planning is also in focus, as Disney prepares to announce a successor to Bob Iger, who is expected to step down by the end of 2026. James Gorman, former CEO of Morgan Stanley, has been appointed as the new chairman of Disney’s board.
Overall, Disney’s positive earnings results reflect a strategic shift towards streaming profitability amid ongoing challenges in traditional media and linear television.
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